Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 November 2013 dear sir,
we often receive professional services bill
which is always below rs.30000. my question is that should i deduct tds@10% under category 194J whenever amount is exceed rs .30000 during f.y if yes then every bill after this will be tds deductible or only deduct on single bill rs.30000

please suggest

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 November 2013 the exemption provided is only when the total payments to an individual entity doesn't exceed Rs 30000 in a year. once this limit is crossed, TDS is to be deducted on all the payments to such party irrespective of the fact whether a particular invoice is less than Rs 30000 or not.

Also, in case where it is expected that the payment to a party shall exceed Rs 30000 in a year, TDS should be deducted straight away on all the payments.

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