Pls answer the following?
1st transaction - 25000
2nd transaction - 25000
Assume the transactions are of prof services and with the same person.
Whether we need to deduct TDS on 50000 or 25000 or 20000.
pls advise
Menu
194J prof fees
Replies (5)
Quick Summary
Is 50000/- inclusive of GST ?
If not then Tds is applicable on 50,000/-
If not then Tds is applicable on 50,000/-
The transaction is exclusive of GST, then if the 1st transaction on 12.12.22 and 2nd transaction happened on 23.12.22 then also need to deduct TDS on total 50000?
Limit for Tds applicability under section 194J is 30,000/- per annum. Tds is applicable on total amount. No exemption to first 30,000/- .
Professional fees paid are subject to tax.
But query is different
Recent Topics :
- On which amount 200% penalty under section 270A is
- RECEIVED INTIMATION U/S 399 FOR TDS PAYMENT ON PRO
- How do CA firms track SEBI/AMFI circulars and dead
- Jurisdictional validity of Sec 148 notice after fa
- Taxable Income or Not
- GST Input Tax Credit (ITC) on Camera Purchase &
- What makes CA Himanshu Singla different from other
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
Related Topics :
CAclubindia
