Dear expert members,
We are professionals and charge our clients group companies as professional fees under three bills in favour of M/s. X, Y, Z. However, the bill amount in each case does not exceed Rs. 20000/- i.e. 15,000/-, 10,000/- and 5000/- (annual charges) but deductions were made in respect of TDS @ 10%.
Please throw some light on whether such deductions are tenable?
you can not deduct deduct TDS if the single bill does not cross threshold limit 30,000/- u/s 194J
| Originally posted by : Pankaj Arora | ||
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you can not deduct deduct TDS if the single bill does not cross threshold limit 30,000/- u/s 194J |
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agrree with Pankaj....
TDS u/s 194J is to be deducted if the aggregate amount of payment made/credited or likely to be paid/credited exceed 30,000/- in a financial year (from 1.7.2010).
It was 20000 previously.
Still TDS should not be in ur case...
& even if it has been deducted... no worry...you can claim set off against ur income tax liability in return
CAclubindia
