194C or 194J

Hi is accounting charges receivable on a monthly basis at Rs.3000 per month attacts TDS as per 194C or 194J. 

Whether the fact that it is provided by a CA change the section.

If it attacts TDS under 194j  as each bill is less than 30,000 Rs. is TDS applicable.

 

Regards

Replies (6)

accounting is classified under TDS sec 194J

gross amount credited or paid during the year in one or multiple bills, if below 30000/- then no TDS, if above then 10% TDS to be deducted.

in your case no tds would be deducted                        

Originally posted by : future ca

in your case no tds would be deducted                        

multiple bills will raise my income for the year more than rs.36000 then whether tds is deductible or not.

yes i think after 10 months i.e. Rs. 30000 had been recd. so after that tds will be deductible on all further receipt.

T.D.S is deductible u/s 194J @ 10% and not under 194C because accounting is covered under the definition of profession under 194J.

But in the given case aggregate payments are exceeding Rs, 30000. T.D.S is deductible.

Once the amount paid or credoted exceeds Rs. 30000, T.D.S is to be deducted on the previous bills also also interest is to be paid for late deduction @ 1% per month.

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