Tds 94j
Querist : Anonymous
2nd Question .during year one bill 11,000 and 2nd bill 20,000 tds deducted
Case 2: TDS to be deducted on second Bill Rs 3100/-
Kapil Verma
Founder
www.Taxadvizer.com
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
tax saving fixed deposit interest as taxable or not ?
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### 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.
---
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