A client of mine deducted TDS on a payment of professional fees. But the limit of Rs.30,000/- is not exceeded. Also client paid some amount to the same person without deduction in 1st quarter. Is there any problem?
Amit M (Student) (52 Points)
06 December 2013A client of mine deducted TDS on a payment of professional fees. But the limit of Rs.30,000/- is not exceeded. Also client paid some amount to the same person without deduction in 1st quarter. Is there any problem?
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 06 December 2013
NO,Problem.T.D.S on professional fee will be deducted in case where payment made to a single person in one financial year exceed rs 30000 aggregate but not a single payment.so in your case,when the above payment is made,the aggregate of payments made may exceed rs 30000, that's why T.D.S deducted.but even aggregate does not exceed rs 30000,he may deduct T.D.S
NOUFAL
(ACCOUNTANT)
(762 Points)
Replied 06 December 2013
I agree with nuli swami sir, you are right, there is no need to deduct the tds until it reach at the limit of that financial year, you can deduct the tds if the bill will come again, and it will go beyond the limit.
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 06 December 2013
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