Tds on professional fees
This query is : Resolved
05 December 2013
DearSir,
TDS is deucted on Professional fee/techinical fees. When is this applicable? when amount exceeds 20000/- or 30000/- for FY 13-14.
TDS is deucted on Professional fee/techinical fees. When is this applicable? when amount exceeds 20000/- or 30000/- for FY 13-14.
05 December 2013
As per Section 194J of Income Tax Act, 1961 tax is to be deducted while making payment of fees to resident for Professional services, fees for Technical services,etc if sum paid exceeds Rs. 30000/- each transaction.
If you are paying Rs. 30,001/- for professional services deduct TDS @ 10%.
Also note that each service is to be considered separate from other one. for e.g. Fees for Technical services is a separate service in comparison to Professional services.
If you are paying Rs. 30,001/- for professional services deduct TDS @ 10%.
Also note that each service is to be considered separate from other one. for e.g. Fees for Technical services is a separate service in comparison to Professional services.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
