Under section 194J, for Professional Fees & Technical Services, 10% TDS should be deducted, if amount exceeds Rs. 30,000.
If total amount is Rs. 45,000 for the FY 2014-15, TDS should be 10% of (Rs.45,000 - Rs. 30,000) i.e. Rs. 1,500. Am I right?
Under section 194J, for Professional Fees & Technical Services, 10% TDS should be deducted, if amount exceeds Rs. 30,000.
If total amount is Rs. 45,000 for the FY 2014-15, TDS should be 10% of (Rs.45,000 - Rs. 30,000) i.e. Rs. 1,500. Am I right?
If the amount exceed 30000/- , tds to be deducted on the entire amount i.e. Rs 45000/- in your case.
TDS should be deducted on entire amount if exceeds Rs 30000. In your case TDS should be deducted on Rs 45000 i.e. Rs 4500.
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Siddharth Bumb
www.siddharthbumb.blogspot.com
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Naveen Fintech Pvt Ltd
Kolkata
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