TDS 194J
This query is : Resolved
18 June 2011
For a company having branches, Whether 194J(TDS)(Rs.30000.00) limit will be allowed for each branch separately or it will be treated for the whole company????
18 June 2011
this limit is for one PAN no.. it does not matters if the company have branches
19 June 2011
It should not be consider branch wise but on the basis of per PAN no 30000 limit is there.
19 June 2011
Rs. 30000/- ememption U/s 194J is allowed per person or per PAN basis.
19 June 2011
As regards payment of Professional fee is concerned the over all limit is 30,000/- per person. Now, if the branches are paying professional fees to the same person then the limit of 30,000/- shall be the aggregate sum which is payable to the professional. Therefore, if in a year the aggregate fee payable by any company to any professional whether from the branch or head office if it exceeds 30,000/- TDS has to be deducted and paid to the credit of the Central Government.
Now, let me tell you when TDS is payable? Suppose a professional has delivered his bill to the company which is 30,000/- and the company has not paid it then no TDS is to be deducted. Secondly the Company has passed the entry in the books for the bill but no payment has been made. In this case the company is bound to deduct the tax and deposit the tax although no payment has been mad.
Now, let me tell you when TDS is payable? Suppose a professional has delivered his bill to the company which is 30,000/- and the company has not paid it then no TDS is to be deducted. Secondly the Company has passed the entry in the books for the bill but no payment has been made. In this case the company is bound to deduct the tax and deposit the tax although no payment has been mad.
20 June 2011
Dear You must check PAN No provided by Company or its Branches, if PAN NO will differ then limit will be allowed for each branch separately If PAN No will same for all then limit will be same for all.
20 June 2011
How there can be several PAN Number for one company. Only one PAN Number is allowed. Yes in case of TIN Number different branches can have different TIN Number
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
