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Tds on 194-j profeessional charges
Sir,
We are paid the Professional Fees for Auditor Total Amount Rs.75,000 on 12.10.2015. But TDS is not deducted. TDS Nil Return Filed. Can i want to deduct TDS (194-J) for this payment ?
Regards,
M.Shanmugasundaram
Accounts Executive
Replies (1)
Yes, ofcourse 194-J is applicable in this case.
As per Section 194J of the Income Tax Act, TDS is to be deducted @ 10% on any amount paid to any resident as fees for professional services if the amount paid or likely to be paid exceeds Rs.30,000 in a F.Y. Since you have not deducted Tds on such payment you are an assessee in default u/s 201(1). Pay TDS amount along with interest as per section 201(1A)
As per Section 194J of the Income Tax Act, TDS is to be deducted @ 10% on any amount paid to any resident as fees for professional services if the amount paid or likely to be paid exceeds Rs.30,000 in a F.Y. Since you have not deducted Tds on such payment you are an assessee in default u/s 201(1). Pay TDS amount along with interest as per section 201(1A)
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