At how much payment for the first time is the tds deducted???
Tds applicability
Vardan Singh Sengar (Accounts Manager in Private Company) (433 Points)
09 July 2013
Vardan Singh Sengar (Accounts Manager in Private Company) (433 Points)
09 July 2013
Manish Kumar Sharma
(Article)
(103 Points)
Replied 09 July 2013
Rate of TDS and Amount on which TDS is to be deducted dependes upon the nature of payment and there is different section for different tyoes of payment.
please be specific.
Manish Kumar Sharma
(Article)
(103 Points)
Replied 09 July 2013
Rate of TDS and Amount on which TDS is to be deducted dependes upon the nature of payment and there is different section for different tyoes of payment.
so please be specific.
Vardan Singh Sengar
(Accounts Manager in Private Company)
(433 Points)
Replied 09 July 2013
say professional fees under 194J section...
Manish Kumar Sharma
(Article)
(103 Points)
Replied 09 July 2013
As per section 194J rate for Deduction of TDS is 10% and if the amount paid in a financial year is not exceeding Rs. 30000/- than there is no requirement to deduct tax,
And one more point is to be noted, that if, the person whose tax is been deducted is not able to provide its Pan no than higher rate will be applicable
Vardan Singh Sengar
(Accounts Manager in Private Company)
(433 Points)
Replied 09 July 2013
say if every year the payment under sec 194J for the particular party does not go beyond 30000/- then ????
Manish Kumar Sharma
(Article)
(103 Points)
Replied 09 July 2013
Then there is no need to deduct tax.
CAclubindia
