Professional Fees
FY 2018-19 - 14,000
FY 2019-20 - 14,000
FY 2020-21 - 14,000
Professional fees of Rs 38,000 was paid in FY 2021-22
Whether TDS is required to be deducted u/s 194J
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TDS on Professional Fees u/s 194J
Replies (28)
Up to 30K for one vendor no need to deduct tds.
have u made 38K for one vendor or Multiple?
if one vendor u need to pay TDS now along with interest
have u made 38K for one vendor or Multiple?
if one vendor u need to pay TDS now along with interest
If it is single tax invoice for a single person then you have to cut tds
If it's more than 30,000 to single person, than required to deduct tax @ 10% u/s 194J.
Was past bills are paid in 2021-22 FY ?
If yes then Tds is not applicable
If yes then Tds is not applicable
Wrong
payment or accruals whichever is earlier.
that is the rule.
payment or accruals whichever is earlier.
that is the rule.
Since respective bills would have been recorded in that particular year tds is not required to be deducted and paid
If it exceeds threshold limit then required.
Those are past bills . It's not required to cut the tds
Hence you made payment more than Rs.30000 in FY 21-22, you are liable to deduct TDS u/s 194J
Then for which year you select in challan no.281 ?
Financial year 21-22
If you consider in FY-2021-22 , Is it the income of FY-2021-22 ?
Not at all, as per law TDS to be deducted on payment not on income.
Then counter party get notices for not declaring income as per 26AS . It will be double taxation
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