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TDS on cooling charges paid to the cold storage Under Section 194-I to payments made by the customers on account of

January 21, 2008
 

An issue was raised before the CBDT to clarify the applicability of TDS on cooling charged paid to cold storage owners.

CBDT has issued a Circular No. 1/2008 Dated 10-1-2008 and clarified that:

"Since the arrangement between the customers and cold storage owners are basically contractual in nature, the provision of section 194-C will be applicable to the amounts paid as cooling charges by the customers of the cold storage."

Therefore, TDS under section 194-I shall  not be deducted. 

(Income Tax Chapter - XVII - B - COLLECTION AND RECOVERY OF TAX - B. - Deduction at source)

 
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