If the aggregate payment for professional services is exact Rs.30,000 then whether i have to deduct TDS or not u/s 194J??
11 Replies
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 04 July 2012
no, TDs is not required to be deducted.. if it exceeds 30000 then only you have to deduct tax
Akash Jain
(CA Final Student)
(261 Points)
Replied 04 July 2012
TDS u/s 194J(professional/technical service) not applicable if bill raised/advance paid less than/equal to 30000.
YOGESH
(STUDENT)
(128 Points)
Replied 04 July 2012
TDS U/sSec94J is to be done if it exceeds Rs.30000 not on 30000Rs.
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 04 July 2012
U/S 194J threshold limit is 30000,
if it is not exceeding 30000 no need to deduct tds
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 04 July 2012
Agree with all above..
TDS IS TO BE DEDUCTED IF AMOUNT IS EXCEEDING RS 30000
Avdhesh Kumar Sharma
(Manager Accounts)
(22 Points)
Replied 05 July 2012
Condition is, if single bill is exceeding Rs.30000/- or Rs.75000/- transactions should be during the financial year then we have to deduct the TDS.
CA.Saibaburao Nanduri
(Chartered Accountant)
(3847 Points)
Replied 05 July 2012
Dear Sashikumar !
I invite your attention the extract of section 194 J which is as follows:
194J. (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of—
(a) fees for professional services, or
(b) fees for technical services
Provided that no deduction shall be made under this section—
(A) from any sums as aforesaid credited or paid before the 1st day of July, 1995; or
(B) where the amount of such sum or, as the case may be, the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to, the payee, does not exceed-
(i) [thirty thousand rupees], in the case of fees for professional services referred to in clause (a), or
(ii) [thirty thousand rupees], in the case of fees for technical services referred to in [clause (b), or]
CA Prakhar Gupta
(Chartered Accountant)
(35 Points)
Replied 11 October 2012
Suppose after payment of Rs. 30,000/- other payment of Rs. 10,000/ was done in same financial year, than whether TDS has to be deducted on 10,000/- @ 10% or on whole 40,000/-
CA Prakhar Gupta
(Chartered Accountant)
(35 Points)
Replied 11 October 2012
ok...but at time of filling TDS return how it will be shown...amount paid 10,000/- and TDS deducted 4,000/-
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