Tds on consultancy charges
This query is : Resolved
27 March 2019
Hi everyone,
My question is we are having our consultant where we are giving her charges of Rs. 25000 per month so her total charges is 300000 p.a now my doubt is whether i have deduct 10% on every month or 10% on 300000i.e her annual charges?
My question is we are having our consultant where we are giving her charges of Rs. 25000 per month so her total charges is 300000 p.a now my doubt is whether i have deduct 10% on every month or 10% on 300000i.e her annual charges?
27 March 2019
Hi Vidhyashree,
As per section 194J of Income tax act 1961, a person is required to deduct TDS @ 10% on professional fees paid to a resident in excess of Rs. 30,000 during a financial year. In your case since the annual payment exceeds Rs 30k, you will have to deduct tds at 10pc every month.
As per section 194J of Income tax act 1961, a person is required to deduct TDS @ 10% on professional fees paid to a resident in excess of Rs. 30,000 during a financial year. In your case since the annual payment exceeds Rs 30k, you will have to deduct tds at 10pc every month.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
