threshhold limit query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 March 2011 there are 2 threshhold limits for professional fees in FY 10-11 . 120k till 30.6.2011, and 180k till 31.3.2011.
below are the queries:
1.if total professional fees for the year is 150k then whether tds will be deducted on the same.
2.if total professional fees for the year is 200k then we need to clculate the tds on 2 lacs or we need to reduce threshhold limit and then calculate tds on balance amountwhether tds will be deducted on the same.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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29 March 2011 Hello... 120K & 180K... u must be talking about the limits of rent & NOT professional fees.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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29 March 2011 In case of professional services..... TDS @ 10 % will be deducted in both the above cases.

& in any TDS scenario, the threshold limit never gets deducted while deducting TDS. You need to deduct TDS on the whole amount.

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