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Tds u/s 194j

Pankaj Arora (Learner) (3134 Points)

29 April 2015

We incorporate a LLP on 2nd January 2015.

We recd Rs. 1 lac bill on 6-01-2015 from our CA for professional services provided regarding incorporation of LLP.

We have not yet deducted TDS & neither yet deposited.

please let me know how much interest we have to pay for the same?

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25 Replies

CA HAYEDAR SHAIKH (Practice ) (627 Points)
Replied 29 April 2015

Dear Pankaj,

You need to pay interest of Rs. 600/- if the date of payment is considered 30th April, 2015.

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Rachit (Student) (27 Points)
Replied 29 April 2015

Dear Hayedar , Pls explain tht how u calculated this amt.

ANIL DHANUKA (Self Employed) (54 Points)
Replied 29 April 2015

Also explain "if the date of payment is considered 30th April,2015".

ANIL DHANUKA (Self Employed) (54 Points)
Replied 29 April 2015

Dear pankaj, to deduct Tds And submit the same hope you have taken TAN. And out of bill of Rs. 1 lac if its include rembershment of fees paid to ROC. Tds will be deducted u/s. 194J only on their professional services @ 10% and not on fees paid

basavaraju (secretary) (24 Points)
Replied 29 April 2015

Up course tds @ 10% paid to the professional charges

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Pankaj (Jr. Accountant) (80 Points)
Replied 29 April 2015

But we have to pay interest on late deduction also?

MASTER MIND (CA on Duty) (104 Points)
Replied 29 April 2015

TDS rate will be 10% i.e Rs.10,000/-

Interest will be 1.5% per month on Rs.10,000/- for 4 months i.e from 1st Jan 2015 to 30th Apr 2015.

So,

Calculation will be

Intrest = 10,000*1.5/100*4 = Rs.600/-

salaj goyal (Student CA Final ) (21 Points)
Replied 30 April 2015

You should have deducted the TDS @ 10 but you didn't deduct the same, now you have to pay the Interest for delayed payment. As per section 210(1A) (i) at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and (ii) at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.