Dear Members,
is TDS applicable on Professional fees paid for30,000/-
according to tds chart threshold limit for payment u/s 194J is 30,000/- so it means TDS applicable from amount 30,001/ ?-
4 Replies
CA RICHA BADALIA
(CA,CS)
(1682 Points)
Replied 07 October 2011
no tds will be deducted on RS. 30000.Ya you are right it will be deducted from RS. 30001/-
Ashutosh Biswal
(Asst.Manager Finance)
(283 Points)
Replied 07 October 2011
|
194J |
Professioanl or technical services |
Any person other than individual and HUF whose accounts are not required to be audited during immediately preceding previous year |
Resident person |
At the time of payment or crediting the payee,, whichever is earlier |
10% |
w.e.f. 1-07-2010== up to30,000 during a financial year for each kind of payment separately
earlier up to 30-06-2010==20,000 |
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 07 October 2011
U\S 194J. TDS ON PROFESSIONAL.
UP TO 30000 NO TDS
EXCEEDING 30000
ie 30001 TDS DEDUCTED & 10 %
AGREE WITH RICHA....
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