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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Grand in aid
- Gst on travel by air for business purposes
- ASMT-10 received from A O
- IT returns for fresh job holders
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Reporting in TDS return
- CLOSING STOCK QUERY
- F&O reporting in ITR
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
