Tds calculation beyond exemption limit
This query is : Resolved
26 November 2013
As per the provisons of TDS deduction (other than salaries) there are specified exemption limit on the amount on which no TDS shall be deducted e.g under section 194 J
No TDS should be deducted if the amount paid or likely to be paid during the financial year does not exceed Rs. 30,000.
Now my question is -
Once the amount paid is over and above the exemption/threshold limit, will the deduction of the TDS is on the amount exceeding the exempt limit or on total amount i.e in above case if amount paid during the financial year reached Rs 32,000 than the TDS will be calcualted for entire Rs 32,000 or on Rs 2000 (amount exceeding the exception limit of Rs 30000)
Please Guide/
No TDS should be deducted if the amount paid or likely to be paid during the financial year does not exceed Rs. 30,000.
Now my question is -
Once the amount paid is over and above the exemption/threshold limit, will the deduction of the TDS is on the amount exceeding the exempt limit or on total amount i.e in above case if amount paid during the financial year reached Rs 32,000 than the TDS will be calcualted for entire Rs 32,000 or on Rs 2000 (amount exceeding the exception limit of Rs 30000)
Please Guide/
26 November 2013
Thanks Manpalca. I would be greatful if you can provide a reference or source confirming this as I need to pass this information further to the payee ( who is getting paid ). He is asking for that.
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Dhirajlal Rambhia
(Expert)
14 August 2023
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