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 | ||
 |
you can not deduct deduct TDS if the single bill does not cross threshold limit 30,000/- u/s 194J |
 |
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
RMA And Associates LLP
New Delhi
CA Inter
View Details
Abic and Mani Chartered Accountants
Kottayam
B.Com
View Details
Malhotra Rajesh & Associates
New Delhi
B.Com
View Details
CA Suraj Garg & Associates
New Delhi
CA Final
View Details
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
