Dear Sir,
one of my client paying consultence charge rs 26000 this is the first bill on this year wheater we have to deduct TDS or not (in previous year total consultence charge through different bill agricate exceed 75000)
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Tds on proffession fee
Replies (5)
No need to deduct TDS now.
CUT OF limit is 30000 FOR PROFESSIONAL fess & 75000 FOR CNTCTORS
INSPITEOF LIMIT IS 30000 DEDUCT TDS ON FIRST BILL OF RS 26000 FOR AVOUDING DIFFICULTY IN FUTURE
AS YOU KNOW THAT TOTALBILLING WILL CROSS 30,OOO YOU SHOULD DEDUCT TDS NOW ONLY BECAUSE LATTER ON SUBSEQUENT BILLING YOU HAVE TO DEDUCT TDS ON TOTAL BILLING AMOUNT DURING THE YEAR NOT ABOVE 30,000. SO ITS BETTER TO DEDUCT TDS ON EVERY BILLING WHEN YOU KNOW ITS GOING TO CROSS GIVEN LIMIT
30000 k is limit if u made a first bill for less than 30000 then u can deduct tds for whole comind bill at the next payment if the next bill is crossing the limit of 30000
Agree WITH ALL
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