Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2013 SIR,
ACTUALLY WE PAID PROFESSIONAL FEE TO OUR ARCHITECTURE ENGINEER ABOVE 40,000/- THOUSAND IN TOTAL THREE BILL BUT WE CANT CUT TDS PREVIOUS TWO BILL BECAUSE WE ARE NOT CONFIRM GROSS FEE WITHIN YEAR BUT INCLUDING LAST BILL THERE IS TOTAL FEE ABOVE 30,000/- 194J SO I CONFIRM CAN I CUT TDS ON ALL AMOUNT AT THE TIME OF LAST BILL PAYMENT
IT MEAN (40000*10%=4000)THERE IS ANY TDS ON INTEREST MATTER PLEASE TELL ME IN DETAIL.
1ST BILL 12000/- NO TDS CUT
2ND BILL 5000/- NO TDS CUT
3RD BILL 23000/- WHAT TO DO
IN FY 2012-2013

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
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08 March 2013 You would not be required to pay interest on TDS if you deduct tax on entire payment.

You will not be liable to pay interest on TDS made for earlier payments because, there was not liability to deduct tax at source at that time.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2013 it means i can only deposit 10% TDS amount on gross payment there is no matter of interest.

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