TDS 194J
This query is : Resolved
18 June 2011
For a company having branches, Whether 194J(TDS)(Rs.30000.00) limit will be allowed for each branch separately or it will be treated for the whole company????
18 June 2011
this limit is for one PAN no.. it does not matters if the company have branches
19 June 2011
It should not be consider branch wise but on the basis of per PAN no 30000 limit is there.
CA. Krishna K Neeraj
(Expert)
19 June 2011
Rs. 30000/- ememption U/s 194J is allowed per person or per PAN basis.
19 June 2011
As regards payment of Professional fee is concerned the over all limit is 30,000/- per person. Now, if the branches are paying professional fees to the same person then the limit of 30,000/- shall be the aggregate sum which is payable to the professional. Therefore, if in a year the aggregate fee payable by any company to any professional whether from the branch or head office if it exceeds 30,000/- TDS has to be deducted and paid to the credit of the Central Government.
Now, let me tell you when TDS is payable? Suppose a professional has delivered his bill to the company which is 30,000/- and the company has not paid it then no TDS is to be deducted. Secondly the Company has passed the entry in the books for the bill but no payment has been made. In this case the company is bound to deduct the tax and deposit the tax although no payment has been mad.
Now, let me tell you when TDS is payable? Suppose a professional has delivered his bill to the company which is 30,000/- and the company has not paid it then no TDS is to be deducted. Secondly the Company has passed the entry in the books for the bill but no payment has been made. In this case the company is bound to deduct the tax and deposit the tax although no payment has been mad.
Ugra Sen Singh
(Expert)
20 June 2011
Dear You must check PAN No provided by Company or its Branches, if PAN NO will differ then limit will be allowed for each branch separately If PAN No will same for all then limit will be same for all.
20 June 2011
How there can be several PAN Number for one company. Only one PAN Number is allowed. Yes in case of TIN Number different branches can have different TIN Number
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Missed uploading GST Invoice
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Query on effect of registration of property
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
