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Tds on 194-j profeessional charges

M.Shanmugasundaram (Accounts) (234 Points)

09 June 2016

Sir, We are paid the Professional Fees for Auditor Total Amount Rs.75,000 on 12.10.2015. But TDS is not deducted. TDS Nil Return Filed. Can i want to deduct TDS (194-J) for this payment ? Regards, M.Shanmugasundaram Accounts Executive

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CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 09 June 2016

Yes, ofcourse 194-J is applicable in this case.
As per Section 194J of the Income Tax Act, TDS is to be deducted @ 10% on any amount paid to any resident as fees for professional services if the amount paid or likely to be paid exceeds Rs.30,000 in a F.Y. Since you have not deducted Tds on such payment you are an assessee in default u/s 201(1). Pay TDS amount along with interest as per section 201(1A)