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Tds on professional fees (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
15 April 2012

If Payment of Professional fees Rs. 28000/- at a time or Prof Fees payment 8,000/- 4 time in year. TDS Deduction is mandatory (bellow limit 30,000).TDS on contractor RS. 30000/-k for single bill or 75 k aggregate the same provision is applicable for 194J.


Vivek Mehta (CA, DISA,CS, MBA)

( Expert )
15 April 2012

There is a single threeshold limit of TDS in case of payment of Fees to Professionals...of Rs. 30000/- and that is to be checked in whole of the year...


CA Prashant Gupta

( Expert )
15 April 2012

TDS is liable only in case amount exceed Rs. 30000/- during the year.


Rakesh Goenka

( Expert )
15 April 2012

no deduction shall be made under this section—(194 J)

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 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


Durgesh Laddha

( Expert )
16 April 2012

I agree with Mr.Rakesh Goenka on sec.194J and about sec.194C any single Bill excess of Rs.30000/- TDS Under section 194C will attract and If in the whole year amount less then or equal to Rs.75000/- and every bill below or equal to 30000/- TDS will not attract.


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