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TDS on Professional Fees u/s 194J

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Proprietor
538 Points Posted on 27 May 2022
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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On 27 May 2022 at 17:17 Report
Replies (28)
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1238 Points Posted on 27 May 2022
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
3 Reply
On 27 May 2022 at 18:55
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CFO- at NHTF
58280 Points Posted on 27 May 2022
If it is single tax invoice for a single person then you have to cut tds
59 Reply
On 27 May 2022 at 20:23
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Chief Accountant
3150 Points Posted on 27 May 2022
If it's more than 30,000 to single person, than required to deduct tax @ 10% u/s 194J.
9 Reply
On 27 May 2022 at 21:29
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CFO- at NHTF
58280 Points Posted on 27 May 2022
Was past bills are paid in 2021-22 FY ?

If yes then Tds is not applicable
59 Reply
On 27 May 2022 at 21:51
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Profession Business
28207 Points Posted on 27 May 2022
Wrong
payment or accruals whichever is earlier.
that is the rule.
44 Reply
On 27 May 2022 at 22:40
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2 Points Posted on 27 May 2022
Since respective bills would have been recorded in that particular year tds is not required to be deducted and paid
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On 27 May 2022 at 22:49
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Profession Business
28207 Points Posted on 28 May 2022
If it exceeds threshold limit then required.
44 Reply
On 28 May 2022 at 07:51
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CFO- at NHTF
58280 Points Posted on 28 May 2022
Those are past bills . It's not required to cut the tds
59 Reply
On 28 May 2022 at 07:55
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Chartered Accountant
86505 Points Posted on 13 June 2022
Hence you made payment more than Rs.30000 in FY 21-22, you are liable to deduct TDS u/s 194J
814 Reply
On 13 June 2022 at 08:02
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CFO- at NHTF
58280 Points Posted on 13 June 2022
Then for which year you select in challan no.281 ?
59 Reply
On 13 June 2022 at 09:08
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Chartered Accountant
86505 Points Posted on 13 June 2022
Financial year 21-22
814 Reply
On 13 June 2022 at 09:39
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CFO- at NHTF
58280 Points Posted on 13 June 2022
If you consider in FY-2021-22 , Is it the income of FY-2021-22 ?
59 Reply
On 13 June 2022 at 11:31
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Chartered Accountant
86505 Points Posted on 13 June 2022
Not at all, as per law TDS to be deducted on payment not on income.
814 Reply
On 13 June 2022 at 15:37
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CFO- at NHTF
58280 Points Posted on 13 June 2022
Then counter party get notices for not declaring income as per 26AS . It will be double taxation
59 Reply
On 13 June 2022 at 20:00


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