TDS on professional fees

Page no : 2

vinayak Parkar (Accounts exe) (92 Points)
Replied 18 August 2010

Dear Mr. Aditya

Thanks for your reply, If any expense has been booked wrongly under the expense head how it should be ractified later on?

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Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 18 August 2010

Edit the previous entry or pass a rectification entry. If the expenses have been booked as professional fees then TDS deductible.

sandeepverma (don't make exuse for study) (304 Points)
Replied 18 August 2010

tds @ 10%

U/s 194 j

CHIRAG DEEPAK GANATRA (CA FINAL) (1054 Points)
Replied 18 August 2010

10% under 194j

CA. BIJENDER KR. BANSAL (ACA, B.COM) (8143 Points)
Replied 18 August 2010

agreed with experts.

If a contract made with professional for work, then also it is covered u/s 194J.

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Ankit rastogi (c.a student) (103 Points)
Replied 18 August 2010

TDS rate is 10% under section 194j.

Batul (Article assistant) (207 Points)
Replied 18 August 2010

Rate of TDS is 10% u/s 194J

(Guest)

Originally posted by : CA. SANAT PYNE
	yes the rate is 10% u/s 194j

Kuldeep (Trainee ) (100 Points)
Replied 18 August 2010

if there is contract made with professional for services den such services fall u/s 194J and tds to be deducted @ 10%

and tds is deducted at the time of advance payment or credit in account whichever is earlier,

if you are providing advance payment of professional fee including audit expenses incurred by profesional then also you shall deduct tds on such payment because, tds is not deducted on reimbursement bill only when professional provide seperate bill for reimbursement of expenses.

if you are providing advance payment for audit expenses only , to be meet by professional then there is no need to deduct tax , but make sure that you will get seperate bill for such advance payment by professional.

hope your doubt is cleared now.