07 January 2014
We have 3 bills of our consultant 6000, 12000 and 12000 dated 16/7/2013, 3/10/2013 and 2/1/2014 respectively. my question is, should i deduct TDS on these three bills?
07 January 2014
No TDS should be deducted under 194J if the amount paid or likely to be paid during the financial year doesn't exceed Rs.30000. In above case you are not liable to deduct TDS as it doesnt exceed the limit till now but if you know that amount can exceed before the completion of financial year, you are liable to deduct TDS on all the bills.
CAclubindia
