TDS for Professional

Dear Valli,

u shud deduct the tax @ 10% from the balance Rs. 30000/- only.

regards,

ratan

Payment made in financial year to single party so deduct TDS on both paymant in current date @ 10%

HII

payment made at time exceeds Rs.20000/- tds made on that amount . not aggregate of whole year. Thats not like sub contractors.

you should calculate TDS @ 10% on both the bills and deduct the calculated amount from the second bill
Please find the calculation as below:

first bill                   10773
second bill            30000
Total bill                 40773

TDS @ 10%          4077 (Rounded off)

Final Payment = 30000 -4077 = 25923

 

please provide clear details, date, payment for the year ctc

Agree with Mr. Ram Avtar Singh and Gajendra Tiwari.

u have to deduct tax now on both payments otherwise how will u issue tds certificate which will be demanded by that professional

Thank you all for your clarifications

Regards,

Valli

Deduct TDS for both while paying the Second bill...........

you have to deduct tds on both amount 10773 and 30000

Dear....

You have to deduct TDS @ 10% on both payments...

if you forgot to deduct TDS on first payment then you should deduct TDS on second payment including first payment in Financial Year. I mean suppose you have not deducted in 5 payments then you should deduct TDs on 6th payment considering all 5 payments.

We are Wireless internet service provider.One company Provide 24 online Software Service Every month The invoice Issued  by cpmpany inclueded Service Tax & Vat.Whether it is libale for Tds deduction. Under which Section & Supported Case Law.