Tds on professional fees
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 April 2012
If Payment of Professional fees Rs. 28000/- at a time or Prof Fees payment 8,000/- 4 time in year. TDS Deduction is mandatory (bellow limit 30,000).TDS on contractor RS. 30000/-k for single bill or 75 k aggregate the same provision is applicable for 194J.
15 April 2012
There is a single threeshold limit of TDS in case of payment of Fees to Professionals...of Rs. 30000/- and that is to be checked in whole of the year...
15 April 2012
TDS is liable only in case amount exceed Rs. 30000/- during the year.
Message likes :
2 times
15 April 2012
no deduction shall be made under this section—(194 J)
where the amount of such sum or, as the case may be, the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year by the person to the account of, or to, the payee, does not exceed—
(i) thirty thousand rupees, in the case of fees for professional services referred to in clause (a), or (ii) thirty thousand rupees, in the case of fees for technical services
where the amount of such sum or, as the case may be, the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year by the person to the account of, or to, the payee, does not exceed—
(i) thirty thousand rupees, in the case of fees for professional services referred to in clause (a), or (ii) thirty thousand rupees, in the case of fees for technical services
16 April 2012
I agree with Mr.Rakesh Goenka on sec.194J and about sec.194C any single Bill excess of Rs.30000/- TDS Under section 194C will attract and If in the whole year amount less then or equal to Rs.75000/- and every bill below or equal to 30000/- TDS will not attract.
Message likes :
1 times
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 this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
