TDS

This query is : Resolved

Sanjay (Querist)
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05 April 2011 pls adv the amount and rate for tds for jobwork given and professional fees 94j?

I understand that 70000 is pa limit but what is the limit per transaction or there is no limit for Fy 10-11 and 11-12.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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05 April 2011 Per transaction limit under section 194C is 30000/- & annual limit is 70000/-

Rate : 1 % for Individual or HUF
2 % for others

+++++++++++++++++++++++++++++++++++++++++++
Total annual limit under section 194J is 30000/- & there is no separate per transaction limit.

Rate : 10 %

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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05 April 2011 Till now the above is also applicable for FY 11-12

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