Under section 194J, for Professional Fees & Technical Services, 10% TDS should be deducted, if amount exceeds Rs. 30,000.
If total amount is Rs. 45,000 for the FY 2014-15, TDS should be 10% of (Rs.45,000 - Rs. 30,000) i.e. Rs. 1,500. Am I right?
Mrinmoy (Software Engineer) (86 Points)
06 February 2015Under section 194J, for Professional Fees & Technical Services, 10% TDS should be deducted, if amount exceeds Rs. 30,000.
If total amount is Rs. 45,000 for the FY 2014-15, TDS should be 10% of (Rs.45,000 - Rs. 30,000) i.e. Rs. 1,500. Am I right?
CA Nilamoni
(Chartered Accountant)
(28 Points)
Replied 06 February 2015
If the amount exceed 30000/- , tds to be deducted on the entire amount i.e. Rs 45000/- in your case.
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 06 February 2015
TDS should be deducted on entire amount if exceeds Rs 30000. In your case TDS should be deducted on Rs 45000 i.e. Rs 4500.
Regards,
Siddharth Bumb
CA Rajan Sadani
(Chartered Accountant)
(38 Points)
Replied 07 February 2015
Manoj Varyani
(Article Assistant)
(33 Points)
Replied 07 February 2015
karan narula
(CA)
(43 Points)
Replied 08 February 2015
CAclubindia
