Limit for tds u/s 194 j

Save Share

This query is : Resolved

preet prakash (Querist)

09 April 2015 Hi All
I have paid 10000+20000 = 30000/- via cheque
do i have to deduct tds on 30000/-
it's 30000/- or 30001/-????????????
thnx
preet

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

09 April 2015 No TDS upto Rs 30000/- per year. So TDS not required to be deducted u/s 194J. If threshold limit of Rs 30000/- p.a. is crossed TDS required to be deducted on total amount.

CA PRIYUL SHAH

CA PRIYUL SHAH (Expert)

09 April 2015 There is no need to deduct TDS u/s 1 94J where the amount of such sum or, as the case may be, the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to, the payee, does not exceed‑

(i) Rs. 30,000 in the case of fees for professional services referred to above.

(ii) Rs. 30,000 in the case of fees for technical services referred to above.

(iii) Rs. 30,000 in the case of royalty referred to above.

(iv) Rs. 30,000 in the case of non-complete fee referred to above

Therefore No need to deduct TDS U/s 194 J upto Rs.30000

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now