Tds on professional fees

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2012 Dear expert,
Followings are the payment details of a professional person received from a client -
1. Rs. 20000/- received on Dec. 2012 for the services provided in 3rd quarter of FY 2011-12 and it was the first payment in FY 2011-12 and Clinet did not made any TDS deducton on payment.
2. Rs. 35000/- Received on July 2012 (A total of Rs. 15000/- in respect of 4th quarter of FY 2011-12 and Rs. 20000/- in respect of 1st quarter of FY 2012-13.
Now please advise me, whether the client is liable to deduct tds in respect of FY 2011-12, as total of 20000/- + 15000/- crossing the threshold limit of Rs. 30000/-.

sharma.ctc@gmail.com

sharma.ctc@gmail.com (Expert)
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12 July 2012 Dear ffriend,
yes the client need to deduct the tds for the fy 11-12 as the expenses related to that year.

For these type of problems it ia advisable to tds on every transaction and forget the limits.

tell the client to deposit the tis along with interest and file the revised 26q

Its my opinion, lets see what others comment.

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2012 However, 2nd payment is received in FY 2012-13.

sharma.ctc@gmail.com

sharma.ctc@gmail.com (Expert)
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13 July 2012 So What, it relates to the year 2011-12.

Anyways, I advice you to ask the deductor to provide the TDS certificates and then you will be able to know what & how he did the adjustments.

Secondly, its the duty of the deductor to deduct the tds and deposit the same,.. so why you are tensed.