TDS professional exceed Threshold limit
This query is : Resolved
04 December 2021
Sir/Madam
Please provide guidance
A partnership firm pays an individual professional fee of Rs 15000 in the month of May 2021. No TDS was deducted as it was below threshold limit.
Now same individual has to be paid professional fees of Rs. 30000 this month.
How to deduct and deposit TDS in this case.
Will I have to deposit TDS on previous bill of May 21 along with interest.TDS Quarterly return of Q1 2021-22 is already filed. So is correction of Q1 TDS return has to be also done?
Please guide on right way of dealing this situation
Thanks in advance
Please provide guidance
A partnership firm pays an individual professional fee of Rs 15000 in the month of May 2021. No TDS was deducted as it was below threshold limit.
Now same individual has to be paid professional fees of Rs. 30000 this month.
How to deduct and deposit TDS in this case.
Will I have to deposit TDS on previous bill of May 21 along with interest.TDS Quarterly return of Q1 2021-22 is already filed. So is correction of Q1 TDS return has to be also done?
Please guide on right way of dealing this situation
Thanks in advance
04 December 2021
Deduct TDS on Rs. 45000/- in this month, and deposit the same in Q3 quarter.
Revision of Q1 TDS return is not necessary.
No need to charge interest.
Revision of Q1 TDS return is not necessary.
No need to charge interest.
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- SALARY CAN BE CAPITALIZE
- GST ISSUE OF INPUT AND OUTPUT GST
- Change Of Karta In Case of Death
- Tax rate change regarding
- Salary from Qatar in Dollars in India
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
