threshhold limit query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2011
there are 2 threshhold limits for professional fees in FY 10-11 . 120k till 30.6.2011, and 180k till 31.3.2011.
below are the queries:
1.if total professional fees for the year is 150k then whether tds will be deducted on the same.
2.if total professional fees for the year is 200k then we need to clculate the tds on 2 lacs or we need to reduce threshhold limit and then calculate tds on balance amountwhether tds will be deducted on the same.
below are the queries:
1.if total professional fees for the year is 150k then whether tds will be deducted on the same.
2.if total professional fees for the year is 200k then we need to clculate the tds on 2 lacs or we need to reduce threshhold limit and then calculate tds on balance amountwhether tds will be deducted on the same.
29 March 2011
Hello... 120K & 180K... u must be talking about the limits of rent & NOT professional fees.
29 March 2011
In case of professional services..... TDS @ 10 % will be deducted in both the above cases.
& in any TDS scenario, the threshold limit never gets deducted while deducting TDS. You need to deduct TDS on the whole amount.
& in any TDS scenario, the threshold limit never gets deducted while deducting TDS. You need to deduct TDS on the whole amount.
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