Tds - professional fee

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2012 Dear Sir,

If any payment made U/s 94J and it exceeds Rs. 20,000/- at a time but does not exceeds its limit of Rs. 30,000/- for Eg.

Cheque of Rs. 25000/- but it is one time payment whole the year then TDS to be deducted or not on Rs. 25,000/- Please suggest me.

Thanks

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 March 2012 In this case, TDS is not required to be deducted.

However, if subsequently you make another payment then TDS will be deducted on the total amount.

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2012 But sir Payment is exceeding Rs. 20,000/- at a time

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 March 2012 The limit under Section 194J is Rs. 30,000/- and not Rs. 20,000/-.

There is no concept of one time payment now. The only thing to be seen for the applicability is that the total payment during the year should exceed Rs. 30,000/-.

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2012 Thanking You Very Much

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 March 2012 You are most welcome. You should use the thanks button to convey your thanks.

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