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Tds on professiona fess
If a person charged me Rs.30000 as a professional fess. should i deduct Tds on it or not.
Replies (4)
Not required to deduct TDS bcoz as per 94J TDS would be applicable on payment of above rs. 30000 and not upto 30000.
not required upto 30000
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.
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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