IN PROFESSIONAL FEES PAYMENT THERE IS A 30000 RS LIMIT FOR TDS DEDUCTION,IF FIRST BILL WAS RAISED BY THE PROFESSIONAL OF RS 20000 I PAID HIM 20000 RS WITHOUT TDS DEDUCTION SINCE THE LIMIT WAS BELOW RS 30000, HE RAISED ANOTHER BILL IN THE SAME YEAR FOR RS 40000,NOW AT WHAT AMOUNT I HAVE TO DEDUCT THE TDS ,AT 40000 RS OR 60000 RS ,KINDLY REPLY AS SOON AS POSSIBLE.
On 60,000/-. Total payment during the FY.
thanks for quick response
is it necessary to file tds 15g/h form online if last year there was no audit case,but 2 years back the audit was done.also tell is it necessary to deduct tds also for the same.
As for last year the accounts were not audited u/s. 44AB for individual/huf/properietor; the TDS provision for this year not applicable; and hence no question of taking form 15G/H from deductees, or filing it online!!
THANK YOU SIR
CAclubindia
