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T.d.s

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07 May 2013 SIR, suppose, i m professional service receiver & receive a service of Rs 29500 in f/y 2011-12 so so whether i deduct the tax of party or not and there is excemption limit of rs. 30000 & tell me reason also if answer is yes

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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
07 May 2013 no you have dont have the liability of deducting Tax
as the amount is less than exemption limit i.e. Rs.30000/- therefore no TDS is required
but if you pay more than that then you have to deduct TDS on the full payment.

but you can pay voluntarily if you want to
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