Tds on professiona fess
Shehbaz (Accountant) (125 Points)
14 January 2015
If a person charged me Rs.30000 as a professional fess. should i deduct Tds on it or not.
4 Replies
Intermediate Student
(-)
(644 Points)
Replied 14 January 2015
Not required to deduct TDS bcoz as per 94J TDS would be applicable on payment of above rs. 30000 and not upto 30000.
Nikhil Mehta
(NA)
(244 Points)
Replied 15 January 2015
According to Section 194J, TDS on professional services - rate 10% (If no PAN- 20%), If amount is exceeding 30,000/- PA.
Here, Amount is not exceed Rs.30000/-. So No need to deduct TDS.
Keshav Maheshwari
(Student CA Final )
(22 Points)
Replied 15 January 2015
Before considering the amount criteria , if your are individual or HUF , in that case you are not eligible to deduct TDS u/s 194J but if your Tax Audit has been done in last FY then you can deduct TDS if amount is exceeding ₹30000.
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