TDS on Proffesional fees

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Yogesh (Querist)
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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

Ram Avtar Singh

Ram Avtar Singh (Expert)
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02 February 2011 tds to be deduct on full amount when it cross the limit for hole year. @10%

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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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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Guest

Guest (Expert)

02 February 2011 Agree with experts

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