TDS ON EXPENSES OR PROFESSIONAL CHARGES

This query is : Resolved 

Quick Summary
This discussion clarifies the TDS (Tax Deducted at Source) rules for expenses and professional charges for the financial year 2023-24. It confirms that the one-shot limit for TDS deduction is Rs 30,000. For yearly limits, TDS on repairs and maintenance falls under Section 194C with a limit of Rs 1 lakh per annum, while the limit for TDS on rent is Rs 2.50 lakhs.

24 September 2024
FY 2023-24 AY-2024-25

ONE-SHOT LIMIT
OR
YEARLY LIMIT

ON WHICH

TDS ON EXPENSES OR ON PROFESSIONAL CHARGES
TO DEDUCT TDS & % OF TDS

24 September 2024 It's one shot limit of Rs 30,000.

25 September 2024 YEARLY LIMIT........FOR TDS ON EXPENSES.......FOR REPAIRES & MAINTAINENCE & ON RENT FY 2023-24 AY 2024-25

26 September 2024 Yearly limit for repairs and maintenance section 194c TDS 1 lac per annum. For rent it's 2.50 lacs.


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