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Tds

Others 263 views 5 replies
Eg: If ABC co. has contacted an agent for a singer and they deducted tds on fees paid to the agent. I want to know whether tds will get deducted or not on the fees paid by the agent to the singer? It will be under Professional Fees 10% but I want to know whether it will get deducted or not
Replies (5)

In this matter TDS will be deducted u/s 194J (Fees for profession service or technical service) if the singer submitted  the bill. if it is cash transaction and no bill submitted then TDS may not deduct by the agent, but note that it is illegal. 

Ok. Thanks a lot.

1 more thing. If the bill given by the singer is exceeding 30K but if the agent makes the payment in installments less than 30K then no TDS right? If they have other transactions and are deducting tds then it will be applicable by default but if this is the first transction then no tds right?

Limit is 30000 for all payments during a financial year, whether credited or likely to be credited or paid. Hence installments also attracts TDS provisons

I hope you have received your answer from CA Assish ji. One thing I want to tell u that TDS deduction from payment wil be  credited to the Deductee Assesse A/c so the Deductee will be benefited at the time of Income Tax return submission. I think the all assesse should be hbituated in filling IT Return for their own benefit.


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