Tds 194 j
This query is : Resolved
19 June 2015
I want to know TDS on professional fees if received May 2015 Rs. 25000 than received in Jun 2015 Rs.10000. so i am ask TDS deduct on Rs. 25000. or not.
19 June 2015
Yes Pooja, you have to deduct TDS on the entire amount.
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19 June 2015
Thanks Namrata,
But why? TDS deducted on paid exceed Rs. 30000.
But why? TDS deducted on paid exceed Rs. 30000.
19 June 2015
Pooja, S.194J states " amount paid or credited or likely to be paid or credited". The interpretation is that at the point of first payment if it is expected that the payment will exceed the limits TDS should be deducted then and there only.
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19 June 2015
once you cross the threshold limit, TDS is applicable for the amount credited or paid during the financial year from Re. 1
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