Tds for consultant whose payment below rs.2.5 lac pa

This query is : Resolved

SUBRAMANAIN (Querist)
Follow

23 November 2015 Hi All

Is it necessary to deduct 10% TDS for payment to a consultant, even though their payment would not cross Rs.2.5lac in this financial year?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

23 November 2015 Yes TDS applicable on professional payment exceeding Rs 30,000.

Guest

Guest (Expert)

23 November 2015 Yes it falls in section 194J,if it is more then 30000 during the year you need to deduct tds at the time of payment or credit whichever is earlier.

Upgrade to CAclubindia Pro. Subscribe Now!