Tds cut mandatory

212 views
User Avatar

20 Points Posted on 30 March 2022
when to cut tds while paying freelancers?
Is it mandatory everytime?
0 Reply Share Follow
On 30 March 2022 at 10:30 Report
Replies (2)
Quick Summary
This discussion clarifies when Tax Deducted at Source (TDS) must be cut when paying freelancers. It explains that TDS is mandatory for professional services at 10% and technical services at 2% if payments exceed £30,000 in a financial year. The source of funds, whether personal savings or company accounts, does not exempt you from this requirement.

User Avatar

Chartered Accountant
5010 Points Posted on 30 March 2022

If the freelancer is appointed as a professional then TDS to be deducted at the rate of 10% when a single bill or aggregate of all the bills exceeds Rs. 30,000 during the financial year. 

Further, if the fees is paid for technical services then TDS to be deducted @ 2% when a single bill or aggregate of all the bills exceeds Rs. 30,000 during the financial year. 

Reply
On 30 March 2022 at 11:13
User Avatar

20 Points Posted on 30 March 2022
If it mandatory even if I pay him from my savings account and not from my company account?
Reply
On 30 March 2022 at 14:14

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Belated Return where Form 10IEA filed this year to
  2. GST Reconciliation Tool (2A vs Books) - looking fo
  3. TDS ON PF FORM 19 WITHDRAWAL
  4. Can a virtual office in Mumbai be used for company
  5. Eway and e invoicing in condition where 4 party ar
  6. Bank balance in ITR-3
  7. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  8. Tempsens Instruments IPO GMP Allotment Listing dat
  9. Upload Type - Correction. Not showing in TDS filli
  10. Partnership tax audit query

More recent discussions | Post

Related Topics :

Loading