I received services rs 35400 in which Gst include rs 5400 so service amount is 30000 in a year so TDs is required or not
9 Replies
shobhit tiwari
(Student CA final)
(28 Points)
Replied 12 December 2017
no , 194 j....35000 or more required to deduct tds...and such sum excluding gst
Afran Sheru
(15 Points)
Replied 12 December 2017
TDS should be deducted under section of 194J if the amount paid or likely to be paid during the financial year does not exceed Rs. 30,000.
Hense in this case TDS should be deduct on tho amount 30,000.
Your payment will be 30,000 - 3,000(10%)= 27000.
27,000+5400 = 32,400
Hense in this case TDS should be deduct on tho amount 30,000.
Your payment will be 30,000 - 3,000(10%)= 27000.
27,000+5400 = 32,400
ASHOK.K
(ACCOUNTS EXECUTIVE)
(59 Points)
Replied 13 December 2017
One bill in particular year no need dectudetd TDS...
Rajkiran Ghosh
(480 Points)
Replied 28 June 2018
Sir I pay of rs 20000 each person for professional service in a financial year . I paid two persons for professional service and the total amount is rs 40000 for two persons professional service. So will i deduct tds on professional service of these two persons????sir plz reply me....
ASHOK.K
(ACCOUNTS EXECUTIVE)
(59 Points)
Replied 28 June 2018
As per section 194J TDS Thereshhold limt is 30000/-.PA. So in this case you received 2 bills from two different service providers, you just ask is any chance to take the service from service providers in future?
if we take the service in future please deducted TDS 10%.
Couldnt take the service in future no need to deductud the TDS(Because bill is below threshold limt).
Rajkiran Ghosh
(480 Points)
Replied 28 June 2018
in future means in that particular financial year if one service provider not issues bill and it is below threshold limit...then???
ASHOK.K
(ACCOUNTS EXECUTIVE)
(59 Points)
Replied 28 June 2018
In future means in a particular financial year. Any bill below threshhold limit no need dectuded TDS.
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