Tds deducation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 March 2015
what are the rate and threshold amount for TDS on payment to professionals in case of individual and co.
18 March 2015
rate is 10% u/s 194J and the threshold limit is 30,000
18 March 2015
TDS applicable u/s 194J. Threshold limit is Rs 30000/- per annum. If PAN not provided TDS to be deducted @ 20%.
If Individual is paying the Professional Fees then TDS required to be deducted only if the file of Individual was under Tax Audit in the previous Financial Year. If no Tax Audit was applicable then TDS not required to be deducted by the Individual.
If Individual is paying the Professional Fees then TDS required to be deducted only if the file of Individual was under Tax Audit in the previous Financial Year. If no Tax Audit was applicable then TDS not required to be deducted by the Individual.
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