Software Maintenance Tds Rate

By mesintarman 14 Apr, 2021

Hi member My question is Whether software maintenance charges paid to vendor will attract tax deduction norms at 2 or 10 one of my vendor firm is providing software maintenace he issued service tax invoice for maintenance charges Regards CA LRam Kumar - Income Tax TDS. But as you mentioned the contract is for annual subscription this amount to contract as well as technical services and TDS is liable to be deducted at 1 or 2 depending on status of supplier.

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Also does upgradation software.

Software maintenance tds rate. TDS rate on Account Maintenance Charges Skip to main content Search This Blog Online Knowledge Zone The Best and Emerging Blog on Internet where you will find knowledge about everything. The facts regarding the issue under consideration is that the assessee incurred expenditure of Rs17556680- under the head Computer Repairs Maintenance during the year and deducted tax at source of Rs216904- on payment of Rs10845007- under. Hi I would like to know what is TDS return rate on software devlopment charges also what would be TDS rate if i purchase software.

Tds rate software development charges Income Tax Goods and services Tax GST Service Tax Central Excise Custom Wealth Tax Foreign Exchange Management FEMA. Illustration-There is an annual maintenance contract of Rs250000- between Mr. Particulars TDS Rates in 1.

Payment of accumulated balance of provident fund which is taxable in the hands of an employee. Tds rate annual maintenance contract software Income Tax Goods and services Tax GST Service Tax Central Excise Custom Wealth Tax Foreign Exchange Management. In the case of a person other than a company 11 where the person is resident in India- Section 192.

Rajesh raised the bill on 28032020. What is the rate of TDS applicable on AMC of computer software Licence Under which Section Pls explain in detail in comparision to section 194C 194J 12 March 2010 It depends on the nature of work. This section will be dealt while calculating TDS on maintenance of not so technical services.

Rajesh and Financial Tree Company FTC for repairs maintenance of Office Computers and other Hardware and Software for FY2019-20. When the payment is to be made to an individual or an HUF TDS has to deducted at 1 of the contract value. TDS on maintenance charges is required to be deducted under Section 194C of Income Tax Act 1961 at the rate of 1 or 2 as the case may be for payments to residents.

Explore our Full detailed Article on TDS. There are people who argue in both cases. When the payment is other than to an individual or an HUF TDS has to deducted at 2 of the contract value.

Payment of salary Normal Slab Rate Section 192A. Any company or person doing a financial transaction that is subject to TDS payment is required to deduct tax at source ie while making the transaction. During the course of assessment the Assessing Officer noted that the assessee Mumbai Metropolitan Regional Development Authority MMRDA had made payment towards Annual Maintenance Contracts AMCs and for Air Conditioners and Lifts on which TDS was deducted under section 194C of the Act.

I would suggest that you can apply 194C. In case of sale or purchase of software both these conditions are not meet and hence there is no liability to deduct tax. The TDS rate will be 5 in case the sum that has been withdrawn is more than Rs1 crore.

Under the new rules the TDS rate will be 2 for individuals who have not filed ITR for 3 years and wish to withdraw a sum of more than Rs20 lakh and less than Rs1 crore. Subscribe Subscribe to this blog Follow by Email Pages Home. The company or person that makes the payment after deducting TDS is called a deductor and the company or person receiving Tax Deducted at Source TDS rates in Nepal for 20772078 UPDATED Read More.

TDS stands for tax deducted at source.

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