praveen (Chartered Accountant) (6971 Points)
18 June 2011Hi 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
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 18 June 2011
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.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 18 June 2011
in your case no tds would be deducted
Sumiti Jain
(FP)
(1364 Points)
Replied 18 June 2011
naga kiran kumar
(Articles Completed)
(78 Points)
Replied 18 June 2011
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.
naga kiran kumar
(Articles Completed)
(78 Points)
Replied 18 June 2011
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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