IF WE PAY LEGAL CHARGES TO SOMEONE AND THE EXEMPTION LIMIT HAS ALREADY EXCEED THEN SHOULD WE DEDUCT TDS ??
IF THE BILL OF LEGAL COMES LATER
FOR EXAMPLE IF THE CURRENT F.Y. WE HAVE ALREADY PAID 1 LAKH LEGAL CHARGES AND IN 19 JAN 2015 WE PAID 50000 FOR LEGAL FEES AND THE BILL WOULD COME IN 5 FEB 2015 THEN SHOULD WE DEDUCT TDS ON 50000 0N 19 TH JAN ??????
24 January 2015
If the limit has already been crossed in that circumstances you have to deduct TDS on the whole of the amount already given & Current Payment. As Per section 194J deduction shall be made at the time of Giving Credit or payment whichever is earlier.
So in your case Deduction to be made on whole of amount Rs.150000.
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