TDS for Consultants

You should deduct TDS on monthly basis @ 10% and deposit the same with the govt authorities on or before 7th of the next month.

hi valli,

        you have to deduct tax at the rate of 10%(provided it is a professional or technical service u/s194j). you have deduct on a monthly basis.

Consultants are to be covered u/s 194J...5000\Month that means ur Total yearly payment will exceed the specified Limit hence deduct TDS @ 10% Only!!

Warm Regards

TDS will be deducted @ 10% and it will be deposited on or before 7th of next month.

If you are paying below 20000per annum to consultant then no need to deducted TDS during the financial year.

fatema is right...........

You are paying 5000 per month that the limit u/s 194J will  be croosed (i.e Rs.20000 P.a). You have to deduct TDS @ 10% only.( No surcharges or education cess will be added.)

Dear All,

I have taken up a six month assignment with an organisation. I'll be serving them as full time consultant. compensation would be Rs.18,500/ month. Going by the rules 10% of it would be deducted. I wanted to know- Is there any way how I can save this 10%? Would rent receipt or some sort of investment help?

Awaiting Response.

how much deduct tds in consultant fees.

TDS refunds consultant'll have to do for him