194j

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 February 2012 Limit in 194j is rs 30000.It is for single payment or more then 30000 in the financial year to same person. If a person pay rs 31000 to professional then he will deduct tds u/s 194j. but if he is paying 10000,10000 and 11000 then will tds be deducted/

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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05 February 2012 Section 194J applicable even different payment or credit to some person which likely to exceed Rs.30000,TDS apply

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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05 February 2012 The limit is for the financial year and the TDS to be deduct @10% if pan no available otherwise 20% to be deduct at the time of payment or credit which is earlier.
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