Tds
This query is : Resolved
16 October 2012
Respected All,
Please refer to the following:
A company pays Rs. 30000 on 30/09/2011 in the F.Y. 2011-12 to a professional and no tax was deducted u/s. 194J as the amount was within the threshold limit.
Now the company makes payment of Rs. 5000 to the same professional on 30/03/2012 in F.Y. 2011-12 and forgets to deduct TDS on payment made.
Now, amount of disallowance for non deduction of TDS will be Rs. 3,000/- or Rs. 33,000/-?
Regards
Please refer to the following:
A company pays Rs. 30000 on 30/09/2011 in the F.Y. 2011-12 to a professional and no tax was deducted u/s. 194J as the amount was within the threshold limit.
Now the company makes payment of Rs. 5000 to the same professional on 30/03/2012 in F.Y. 2011-12 and forgets to deduct TDS on payment made.
Now, amount of disallowance for non deduction of TDS will be Rs. 3,000/- or Rs. 33,000/-?
Regards
16 October 2012
There is no question of minimum exemption.Hence once threshold of 30000 is crossed TDS has to be deducted on the whole 33000 otherwise disallowance crops up on entire Rs.33000
16 October 2012
The whole amount of Rs. 33,000/- shall be disallowed u/s 40(a)(ia).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- NRI starting business in India
- EXPORT COMMERCIAL INVOICE HSN CODE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- TDS ON EMAIL DOMAIN SERVICE BILL
- GST not cancelled by tenant
- CREDIT NOTES WITHOUT GST
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
