Interest on tds under section 194j
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 November 2012
Sir,
I have made a payment to a consultant on 01/07/2012 amounting to Rs. 25,000. At that time as the transaction is below Rs. 30,000, so i have not deducted TDS under section 194J. Now, i am making another payment of Rs. 55,000 to same consultant and deduct TDs on the whole amount of Rs 80,000.
My query is that whether interest is also required to paid for late deduction of TDS for Rs. 25,000.
Regards,
barun Maskara
I have made a payment to a consultant on 01/07/2012 amounting to Rs. 25,000. At that time as the transaction is below Rs. 30,000, so i have not deducted TDS under section 194J. Now, i am making another payment of Rs. 55,000 to same consultant and deduct TDs on the whole amount of Rs 80,000.
My query is that whether interest is also required to paid for late deduction of TDS for Rs. 25,000.
Regards,
barun Maskara
30 November 2012
No interest will be levied since at that time total payment was within the limit of Section 194J.
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