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Tds deducted under 194j for professional fee payment of exactly 30000

TDS / TCS 507 views 1 replies

In the last FY, I received an amount of exactly Rs. 30,000 as professional fees. However, I was paid only Rs. 27,000 after deducting 10% TDS. I have now learned that TDS under 194J needs to be deducted only if the professional fees exceeds Rs. 30,000 in a FY. Is there a way to claim the refund of the entire TDS? If not, do I have to declare 50% of 30000 as my income and pay tax accordingly?

Thank you. 

Replies (1)

TDS deducted is no way loss to deductee. You can file return, pay legitimate tax over the income, and claim excess refund.


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