TDS to be deducted or not
This query is : Resolved
29 November 2010
A person is getting professional fee from two companies under the same management.
Rs. 25000 each. One of the co. pays the amount in two different cheques. One cheque is paid on behalf of the other company and the same is shown under loans and advances to the other co. and no TDS is deducted as the payment is less than Rs. 30000 for each co.
Is the treatment OK????
Rs. 25000 each. One of the co. pays the amount in two different cheques. One cheque is paid on behalf of the other company and the same is shown under loans and advances to the other co. and no TDS is deducted as the payment is less than Rs. 30000 for each co.
Is the treatment OK????
29 November 2010
Yes. The treatment is correct.
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