Menu
Tds
Adudit fees of Rs.5000 is paid to TS Auditing in cash TDS is also adjusted (tax @ 10% Surcharge @ 10% cess @ 2% & Edu Cess @ 1%)
plz help me to solve this problem in tally & also send backup file.
Replies (1)
As prescribed under Section 194J of Income Tax, 1961:
"TDS is required to be deducted @ 10% on fees paid for professional or technical services". However there is no requirement to deduct TDS if the amount does not exceeds Rs.30,000.
Therefore, in your case the Company need not to deduct any TDS on the amount as the same is not exceeding the limit.
For Surcharge and Education Cess: There is no such requirement.
Please refer https://www.incometaxindia.gov.in/booklets%20%20pamphlets/tds-rates-eng.pdf
Recent Topics :
- 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
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
Related Topics :
CAclubindia
