TDS
This query is : Resolved
14 March 2009
repected sir
I have not deducted TDS on professional Fees of a person assuming total payment during the yr will not exceed the exempt limit (i e Rs 20000/-), but now with current payment it is crossing the limit. My query is shall I calculate & dedudct TDS on prvious payment (which I have not deducted earlier) from current payment including interest (on late payment). ? will interest also be payable ?
thanks
I have not deducted TDS on professional Fees of a person assuming total payment during the yr will not exceed the exempt limit (i e Rs 20000/-), but now with current payment it is crossing the limit. My query is shall I calculate & dedudct TDS on prvious payment (which I have not deducted earlier) from current payment including interest (on late payment). ? will interest also be payable ?
thanks
14 March 2009
Dear Brijendra,
You should deduct the complete TDS on current payment, no interest will be applicable.
You should deduct the complete TDS on current payment, no interest will be applicable.
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