G MURALIDARAN (ADVISOR CREDIT AUDIT DEPT SBI IMA HYDERABAD) (35 Points)
26 August 2017Respected Forum,
If a retired bank officer has been hired as "Advisor or Consultant" for a period of 12 months, and the fixed contract amount to be drawan 1/12 every month, then the TDS deductable falls under what section of ITA.
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 26 August 2017
In my opinion you should deduct TDS under sction 194J (Professional services)
as person is appointed as a advisior (even if he is not having any professional degree of education)
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193936 Points)
Replied 26 August 2017
U/S. 194J at rate 10%..... as soon as the aggregate amount equal or exceed Rs. 30,000/-
CAclubindia
