Tds on retainership fees
Raja Kumar Jha (Student CA IPC / IPCC) (45 Points)
27 October 2015
dear sir / madam,
what will be the rate of tds in case of retaintership fess (individual)
6 Replies
Karthik.V.Kulkarni
(Chartered Accountant)
(594 Points)
Replied 27 October 2015
It is 10% if retainership fee exceeds 30000 in total.
Miss Rinkal
(Student)
(1309 Points)
Replied 27 October 2015
Retainership fees if exceeded rs 30000 would be taxed @ 10%
Raja Kumar Jha
(Student CA IPC / IPCC)
(45 Points)
Replied 27 October 2015
sir one more thing in any case without any lower deduction certificate ,tds on retainership can be 1% ?
Miss Rinkal
(Student)
(1309 Points)
Replied 27 October 2015
No. Retainership income cannot be construed as a contractual/ sub contractual income. Hence without applying for lower deduction certificate, tds cannot be deducted @ 1% for retainership fees
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114225 Points)
Replied 28 October 2015
TDS to be deducted u/s 194J @ 10% if the threshold limit of Rs 30000/- p.a. is crossed.
Miss Rinkal
(Student)
(1309 Points)
Replied 28 October 2015
I agree with CMA CS Sanjay Gupta. It is to be deducted u/s 194J
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