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Tds on retainership fees
dear sir / madam,
what will be the rate of tds in case of retaintership fess (individual)
Replies (6)
It is 10% if retainership fee exceeds 30000 in total.
Retainership fees if exceeded rs 30000 would be taxed @ 10%
sir one more thing in any case without any lower deduction certificate ,tds on retainership can be 1% ?
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
TDS to be deducted u/s 194J @ 10% if the threshold limit of Rs 30000/- p.a. is crossed.
I agree with CMA CS Sanjay Gupta. It is to be deducted u/s 194J
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