03 March 2010
SIR, PLEASE SOLVE THIS PROBLEM. WHEN U/S 194J ONE HAS PAID A PROFESSIONAL FEES OF RS. 21000.00 THAN ON WHAT AMOUNT HE SHOUL DEDUCT TDS? EITHER ON EXCESS OF 20000.00 THAT IS ON RS. 1000.00 OR ON WHOLE AMOUNT THAT IS ON 21000.00?
WHETHER THE ANSWER OF ABOVE MATTER IS ALSO APPLY TO OTHER SECTION OF TDS? that is whether we have to cut tds on whole amount or on remaining amount after deducting exemption limit of individual head i.e. on commission or interest or rent?
Once the threshold limit is crossed the TDS will be deducted on entire amount. This rule is applicable for other section as well except TDS on salaries u/s192.
19 July 2010
there may be a situation, deductor paid Rs. 20000/- upto December 2009 and in January he pays Rs. 1000/- only. TDS is to be duducted Rs. 2000/-. in this case only 1000/- can be retained. after this payment no dealing with the deductee. what will happen. pl advise with provisions of act applicable
CAclubindia
