TDS on Proffesional fees
This query is : Resolved
02 February 2011
if Proffesional Billed 28000/- upto 10th month & Rs.2000/- bill is raised by him.
What is the Procedure for TDS. Because Limit is 30000/- now tds will be deducted from whole 30000/-then how can we Recorded tds entry
What is the Procedure for TDS. Because Limit is 30000/- now tds will be deducted from whole 30000/-then how can we Recorded tds entry
02 February 2011
tds to be deduct on full amount when it cross the limit for hole year. @10%
02 February 2011
In that case the whole amount of this current bill of Rs. 2000/- will be booked against TDS & further 1000/- more TDS to be booked in his account, which shall be eventually be recoverable from his. as TDS @ 10 % will be on the whole amount of Rs. 30000/- i.e Rs. 3000/-
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