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Tds

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31 October 2013 Audit Fees Fy-2012-13 Rs 20,000/-(Rs.10,000 from each sister concern co)to a CA-Firm for statutory & tax audit of two sister concern co.of an Limited company.

1.whether tax should be deducted at source in above case?

2.what is rate of TDS and threshold limit ?
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
31 October 2013 TDS u/s 194J on professional fees,
The threshold limit is 30000 in a single payment and Rs. 75000 in aggregate in a year..
At the rate of 10 percent...
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
31 October 2013 Sec 194J is not applicable as it is below the threshold limit, no tds to be deducted if only 20,000 during the year is to be paid.
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