TDS on professional services

Hi Firends,

FY:2009-2010 is first year for my propreitory firm.

I want to know whether i need to deduct TDS from the professional services fees.

I heard in the first year of the firm TDS is not deducted, is that true?


If not, then what will be the TDS applicable?


Await your reply.

 

Regards,

Anant

Replies (3)

If your Turnover exceeds Rs. 40 Lacs in the year i.e. you are liable to Tax  Audit, then you are bound to deduct the Tax (TDS). And if the amount of Professional Fee exceeds Rs.20000 for the year, you have to deduct the Tax.

Individual or HUF are not liable to deduct the tax at source u/s 194J (Fees for professional or technical services) if such Individual or HUF was liable to get the accounts audited u/s 44AB in the immediately preceding year.

 

hence, in the first year the individual is not liable to deduct tax at source from fees to professional.

TDS provisions are not applicable on Individual and HUF unless they are req. to get audited under section 44Ab in previous year . since it u r first year TDS provisions are not applicable on You. and above procedure will have to apply on yearly basis

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 August 2026
CA Articleship

RSAG & CO LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 August 2026
Article Assistant

Sanath Sheshagiri & Co.

Bengaluru

CA Inter

View Details
Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details