Tds

This query is : Resolved

Guest

Guest (Querist)

13 October 2013 hi I received professional services from tax consultant he gave me two invoices first shows Rs.20000 statutory fees second shows Rs.11000 as consultancy charges then kindly tell me should I deduct tax at source? under which section?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

13 October 2013 TDS to be deducted on Rs 31000/- @10% u/s 194J since threshold limit of Rs 30000/- p.a. has been crossed.

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

13 October 2013 Agree with the Expert,

TDS is to be deducted if the Fees for professional services or technical services exceeds Rs. 30,000/- p.a. @ 10 percent..

Note: If no PAN is furnished the rate would be reversed to 20 percent.

Guest

Guest (Querist)

14 October 2013 thanks

But sir Suppose
I got my company Incorporation and
if the amount of statutory fees Rs.20000 was paid by me through my net banking a/c

and I have given a cheque of only Rs.11000 to him then ??????????

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

14 October 2013 Since the aggregate bills and payment is exceeding the threshold limit under sec.194J Rs.30000/- so as advised by experts TDS need to be deduct on Rs.31000 while making payment on Rs.11000/-

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

14 October 2013 You should have given the cheque after deducting TDS. In any case now you have to deposit TDS of Rs 3100/- to avoid disallowance of exependiture of Rs 31000/-

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok