Tds

This query is : Resolved

KETAN N. SATHAWARA (Querist)
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28 October 2013 As per sec 194J tds deducted if payment morethan 30000 p.a., I paid 40000 than in what amount i will deduct tax On 10000 or on total amount of 40000.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 October 2013 TDS need to be deducted entire amount of Rs.40000

CA Pallav Singhania

CA Pallav Singhania (Expert)
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28 October 2013 U/S 194J TDS is to be deducted if the payment exceeds the prescribed limit i.e 30000 on the whole amount..
In your case TDS is to be deducted on ₹40000 @ 10 percent....

CA Madhukiran Reddy

CA Madhukiran Reddy (Expert)
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29 October 2013 tds u/s 194j @ 10% is to be deducted on the total amount if the payment made exceeds 30000 p.a irrespective of paid or credited

CA Madhukiran Reddy

CA Madhukiran Reddy (Expert)
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29 October 2013 tds u/s 194j @ 10% is to be deducted on the total amount if the payment made exceeds 30000 p.a irrespective of paid or credited

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 October 2013 you need to deduct on the whole amount.

In case you have not deducted against the first 30000, then you may deduct Rs 3000 in addition to the normal 10% while making the next payment.

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