08 September 2012
Prof.charges bill is exactly Rs 30,000 - no other transactions during the year. Should i deduct TDS @ 10% as per 194 j? and simiarly for Rent if it's exactly 1,80,000 should i?
08 September 2012
As per section 194J any amount paid exceeding Rs.30000 required to deduct TDS. As well as section 194I any amount paid not exceeding Rs.180000 during the year not required to deduct TDS. So no need to deduct TDS for your cases.
08 September 2012
Professional Fees: (Section 194J) If Transaction is Single Entry of Rs.30000 then Deduct the TDS 10% as per Section. If Aggregate 30000 in year then dont deduct the TDS.
Rent: (194I) Rent 180000 10% Rent-plant and machinery 2 %
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