07 May 2013
SIR, suppose, i m professional service receiver & receive a service of Rs 29500 in f/y 2011-12 so so whether i deduct the tax of party or not and there is excemption limit of rs. 30000 & tell me reason also if answer is yes
07 May 2013
no you have dont have the liability of deducting Tax as the amount is less than exemption limit i.e. Rs.30000/- therefore no TDS is required but if you pay more than that then you have to deduct TDS on the full payment.
CAclubindia
