Limit for tds u/s 194 j
This query is : Resolved
09 April 2015
Hi All
I have paid 10000+20000 = 30000/- via cheque
do i have to deduct tds on 30000/-
it's 30000/- or 30001/-????????????
thnx
preet
I have paid 10000+20000 = 30000/- via cheque
do i have to deduct tds on 30000/-
it's 30000/- or 30001/-????????????
thnx
preet
09 April 2015
No TDS upto Rs 30000/- per year. So TDS not required to be deducted u/s 194J. If threshold limit of Rs 30000/- p.a. is crossed TDS required to be deducted on total amount.
09 April 2015
There is no need to deduct TDS u/s 1 94J 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 aforesaid person to the account of, or to, the payee, does not exceed‑
(i) Rs. 30,000 in the case of fees for professional services referred to above.
(ii) Rs. 30,000 in the case of fees for technical services referred to above.
(iii) Rs. 30,000 in the case of royalty referred to above.
(iv) Rs. 30,000 in the case of non-complete fee referred to above
Therefore No need to deduct TDS U/s 194 J upto Rs.30000
(i) Rs. 30,000 in the case of fees for professional services referred to above.
(ii) Rs. 30,000 in the case of fees for technical services referred to above.
(iii) Rs. 30,000 in the case of royalty referred to above.
(iv) Rs. 30,000 in the case of non-complete fee referred to above
Therefore No need to deduct TDS U/s 194 J upto Rs.30000
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