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Shehbaz (Accountant)     14 January 2015

Tds on professiona fess

If a person charged me Rs.30000 as a professional fess. should i deduct Tds on it or not.

 4 Replies

Intermediate Student

Intermediate Student (-)     14 January 2015

Not required to deduct TDS bcoz as per 94J TDS would be applicable on payment of above rs. 30000 and not upto 30000.
Arif Ali

Arif Ali (Apt Co Advisory)     14 January 2015

not required upto 30000

Nikhil Mehta

Nikhil Mehta (NA)     15 January 2015

According to Section 194J, TDS on professional services - rate 10% (If no PAN- 20%), If amount is exceeding 30,000/- PA.

Here, Amount is not exceed Rs.30000/-. So No need to deduct TDS.

Keshav Maheshwari

Keshav Maheshwari (Student CA Final )     15 January 2015

Before considering the amount criteria , if your are individual or HUF , in that case you are not eligible to deduct TDS u/s 194J but if your Tax Audit has been done in last FY then you can deduct TDS if amount is exceeding ₹30000.

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