About Tds on power backup charges
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6 FAQs about [Tds on power backup charges]
Do I need to deduct TDs on electricity charges U/S 194q?
24 March 2022 Yes in my opinion also, no need to deduct TDS on electricity charges u/s 194Q. Upgrade to CAclubindia Pro. Subscribe Now! 01 November 2022 TDS u/s194Q is applicable in case of electricity charges. CBDT circular clarifies in respect of electricity purchased through 'Power exchange' only and not otherwise.
Is TDs applicable on transmission & wheeling charges?
The issue of applicability or otherwise of TDS on transmission and wheeling charges, has always been a contentious and litigative issue. The Revenue Authorities, have, time and again, subjected the said transmission & wheeling charges, to the deduction of TDS, by the power distribution companies, either under section 194J, or u/s 194I or u/s 194C.
What is TDs on maintenance charges?
TDS on maintenance charges is required to be deducted under Section 194C of the Income Tax Act, 1961 at the rate of 1% or 2% (as the case may be) for payments to residents. Want to know more about TDS on Maintenance Charges? Get a free trial to our ‘ TDS Course ’ today. Related Articles
Are transmission services liable for TDs deduction?
It is a contentious issue from a long time that transmission services for power should be considered under which section to deduct the TDS or these services are not liable for any TDS deduction at all.
When TDS is ducted on the gross amount excluding electricity expenses?
From the above Circular, TDS to be ducted on the gross amount including electricity expenses if invoices from landlord are with other services i.e. composite supply. Thus, if there is no element of income but invoices with other services i.e. composite supply then the provisions of TDS are applicable as per above circular.
Is TDs deductible at source?
On the basis of above decision, TDS is deductible at source in respect of payment of income comprising an element of income. Thus, in case of no element of income, it should be treated as reimbursement of expenses and the provisions of TDS are not applicable. The second question is whether the Invoice from landlord is composite supply.
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