Tds 94j

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2016 1st Question . one bill :30,000 tds deducted

2nd Question .during year one bill 11,000 and 2nd bill 20,000 tds deducted

CA Kapil Verma

CA Kapil Verma (Expert)
Follow

23 February 2016 Case 1 : TDS to be deducted RS 3000

Case 2: TDS to be deducted on second Bill Rs 3100/-

Kapil Verma
Founder
www.Taxadvizer.com

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2016 94 j excect amt rs.30000 so limt of rs.net30000 or after 30000

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2016 limit 94 j 30000 means if i am recd bill of rs.30000 so no decut tds?

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

24 February 2016 Yes no need to deduct TDS in case of bill amount equals 30000, as threshold limit not exceeded

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2016 Tax Saving Fixed Deposit applicable in Partnership firm ?

tax saving fixed deposit interest as taxable or not ?

Asha Kanta Sharma online

Asha Kanta Sharma online

(Expert)
Follow

27 July 2025 Here’s a quick breakdown for your TDS query under **Section 194J** and related fixed deposit questions:

---

### 1. **TDS under Section 194J (Fees for Professional or Technical Services)**

* **Threshold limit:** TDS is deductible only if the payment **exceeds Rs. 30,000** per transaction.
* If the bill amount is **exactly Rs. 30,000**, **no TDS is required**.
* Example cases:

* Single bill of Rs. 30,000 — no TDS deducted.
* Two bills in a year: Rs. 11,000 + Rs. 20,000 = Rs. 31,000 — TDS applies on the second bill because cumulative amount exceeds Rs. 30,000.

---

### 2. **Tax Saving Fixed Deposit (FD) in Partnership Firm**

* **Applicability:** Partnership firms **can invest** in tax-saving FDs (usually 5-year term).
* **Taxability:**

* Interest earned on these FDs is **taxable income** for the firm.
* Tax-saving refers to the deduction under **Section 80C** for the principal amount invested, **not** the interest.
* So, **interest is fully taxable** in the hands of the partnership firm.

---

If you want, I can help with specific sections or sample calculations too!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now