Prakash Mehta (227 Points)
27 March 2018my first bill of Rs.20k for professional fees then next bill of Rs. 12k
so now my total bill amount of same party exceeds 30k under 194J so here i m liable to deduct tds on whole amount of Rs.3500(35000*10%) or only Rs.1200 will it be deduct pls..let me know and also the payment date for tds caln
PARESH SHAH
(PARTNER)
(126 Points)
Replied 27 March 2018
sreeja reddy
(Articled assistant)
(142 Points)
Replied 27 March 2018
sreeja reddy
(Articled assistant)
(142 Points)
Replied 27 March 2018
Saifullah Khalid
(Autodidact/Curious )
(633 Points)
Replied 27 March 2018
| Originally posted by : Prakash Mehta | ||
 |
my first bill of Rs.20k for professional fees then next bill of Rs. 12k so now my total bill amount of same party exceeds 30k under 194J so here i m liable to deduct tds on whole amount of Rs.3500(35000*10%) or only Rs.1200 will it be deduct pls..let me know and also the payment date for tds caln |  |
First Check whether as per law you are even liable to deduct TDS or not ? for same refer below >
* Every person (i.e. payer) other than an individual or a Hindu undivided family (HUF), who is responsible to make payments covered under section 194J to a resident, is liable to deduct tax at source under section 194J.
* An individual or a HUF, whose total sales, gross receipts or turnover from the business or profession carried on by him/it exceeds the monetary limits specified under section 44AB during the financial year immediately preceding the financial year in which aforesaid amount is credited or paid, shall be liable to deduct tax under this section. In other words, an individual or a HUF is liable to deduct TDS under this section, if such individual or HUF was liable to get accounts audited under section 44AB in the preceding financial year.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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