We are providing services to a MNC Bank. They were deducting the TDS at the normal rate of 2.2% in the last year. This year they are deducting at an enhanced rate of 12.236%. Consequently, the TDS on receipts is on the high side and we estimate a huge refund by the IT. We want to know whether we can approach the IT department to permit our clients to deduct TDS at a lesser rate so that refund can be avoided. If yes, to whom to approach? Is there any format or form for the purpose.
I shall be grateful if I am enlightended on this issue.
S. Krishnamoorthy

From India , Madras
dEAR fND,
i DON'T THINK THAT 2.2% RATE OF TDS WHICH YOU R USING IS APPROPRIATE AS PER IT ACT. PLS FURTHER CLARIFY ON THIS MATTER.
YOU HAVE TO GIVE TDS AT 12.36% OTHERWISE AS APPLICABLE. PLS PROVIDE FURTHER INFORMATION AS ON WHAT SERVICE YOU R DEDUCTING TDS.

From India , New Delhi
Dear friend,
We are providing data processing and call center services.
My contention is that both of them are not "technical" or "professional" services rendered by "professionals".
S. Krishnamoorthy

From India , Madras
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