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Section 194j

This query is : Resolved 
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(Querist)
01 February 2013 From 1-4-2012 to 31-1-2013 we pay a sum of Rs 30,000 to a professional and no TDS deducted because limit is net cross. but on 1-2-2013 we made payment of Rs. 40,000 after deduction of TDS Rs.7000 {on (30000+40000)*10%}

My question is interest of 1% is levy on 30000
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 August 2013 Need to deduct on Rs.70000 (30000+40000)

No interest levy on Rs.30000

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