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Tds

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(Querist)
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
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CA C.JANANI

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CA C.JANANI (Expert)
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
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
16 October 2012 The whole amount of Rs. 33,000/- shall be disallowed u/s 40(a)(ia).
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