TDS on Professional Fees

hi, your professional fees P.M 6000/- means yearly 72,000/- p.a as per income tax rules 10.3% tds deducted in ur fees means 7416/- yearly . company has forget the deduction of tds in ur fees but they are liable to pay tax dept & that much amt recover in your fees annualy any time.....

The company should deduct the TDS amount on fees amount not deducted earlier from the current bill of rs 6000/ and pay the balance amount to the lady.

regards

Yogesh

Tax has to be deducted on the total amount and not on the excess.

yes deducted tds.

calculate tds from april'08

amit

Deduct tax from current bill on 42000 @ 10.3% and deposit it before 7th of Nov. 08 then deduct tds per month on Rs 6000 and deposit within due date.

Hi.,

May know., how much amount will be deduct from my salary for TDS.,

For Ex., My salary Rs. 12,000 (gross pay / Month)

can one help for detiled TDS Calculation.,

Is income Tax is entirely different from TDS yes or No?

Is there any tax relaxation like LIC, Donation etc., is applicable for TDA.,

Can any help me for the above my queries.,

Regards,

Suresh/

Hi,

I want to know that i am a professional (Doctor) . In my Nursing Home I Purchase a Machine  and i am paying 40000/- Annual maintenace . Should i Deduct TDS as a contract?

Hi,

Can any help me for the above my queries.,

Regards,

Ramesh

hi! TDs is deductible if the single payment exceeds Rs 20000/- or the annual payment exceeds rs 50000/- hence in your case TDS is applicable and so it should be deducted rights from the month of April 08 @ 10.3% on each payment however interest @ 1%pm will be attracted on tax deduction for the period april to august

Mr Ramesh Kumar. For Deduction TDS one should have TAN Number and that to the people who are covered under Tax audit should have to deduct TDS. in your case if you come under the perview of Tax audit and then for deducting TDS you have to apply TAN.

Hello ,

Please help me . We have Paid TDS more on professional fees. Can excess payment adjusted to next quarter period. We are filing Quartely TDS Return. whether excess payment to be claimed refund from tds department.But how. 

hi experts,

please help me .it is very urgent.excess payment on professional fees paid through on line.My question is can i adjusted excess amount in next quarter. or excess payment paid to tds department ,can get refund from them .but what is procudure for that.

Hi, You have to deduct on total amount paid up to Aug-09 and Amount you are going to pay in Sep-09 both