Tds

This query is : Resolved

Guest

Guest (Querist)

13 October 2013 hi I received professional services from tax consultant he gave me two invoices first shows Rs.20000 statutory fees second shows Rs.11000 as consultancy charges then kindly tell me should I deduct tax at source? under which section?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 October 2013 TDS to be deducted on Rs 31000/- @10% u/s 194J since threshold limit of Rs 30000/- p.a. has been crossed.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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13 October 2013 Agree with the Expert,

TDS is to be deducted if the Fees for professional services or technical services exceeds Rs. 30,000/- p.a. @ 10 percent..

Note: If no PAN is furnished the rate would be reversed to 20 percent.

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Guest

Guest (Querist)

14 October 2013 thanks

But sir Suppose
I got my company Incorporation and
if the amount of statutory fees Rs.20000 was paid by me through my net banking a/c

and I have given a cheque of only Rs.11000 to him then ??????????

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 October 2013 Since the aggregate bills and payment is exceeding the threshold limit under sec.194J Rs.30000/- so as advised by experts TDS need to be deduct on Rs.31000 while making payment on Rs.11000/-

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 October 2013 You should have given the cheque after deducting TDS. In any case now you have to deposit TDS of Rs 3100/- to avoid disallowance of exependiture of Rs 31000/-