Tax deducted at source 194 CIJ

Question

Accepted Answer

Tax Deducted at Source (TDS) under section 194 CIJ

Section 194 CIJ of the Income Tax Act deals with TDS on payment of compensation on acquisition of certain immovable property.
TDS is deducted at the rate of 10% on the amount of compensation paid.
The person responsible for making the payment is required to deduct TDS and deposit it with the government.
The TDS deducted needs to be reported and filed in the TDS return.
Failure to deduct or deposit TDS may attract penalties and interest.

Accepted Answer

Payment to contractor 194 c is applicable

Payment to professional or service providers 194j applicable