About TDS on professionals
Querist : Anonymous
Our company has hired some marketing executives from Job consultant whose total bill for the year has come above 40,000. I would like to know that what is the threshhold limit for the same.
Threshold limit is Rs 30000/- p.a.
Querist : Anonymous
I would like to know that if their single bill is of Rs.4,000/- .We have done 12 payments in a year. Should I deduct the TDS for the same or not since the total amount for the year has become 48,000/-
Querist : Anonymous
I would like to know that if their single bill is of Rs. 4,000/- .We have done 12 payments in a year. Should I deduct the TDS for the same or not since the total amount for the year has become 48,000/-
As soon as total payment during the year crosses Rs 30000/- you have to deduct TDS @ 10%, if PAN not given @ penal rate of 20%.
Limit mentioned above by Navin Ji is for Sec 194C and not for 194J.
Different threshold limits are for 194C
For 194J.... Single or multiple bills... Limit is 30000/-
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