Tds u/s 194j

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I am providing professional service to my client from last 2 years and professional fees charged was Rs. 25000 per year. now in this F.Y.2016-17 he want to pay my fees Rs.50000. hence, whether TDS is applicable on the same.
Replies (7)

" now in this F.Y.2016-17 he want to pay my fees Rs.50000. hence, whether TDS is applicable on the same?"

If he is liable for tax audit for AY 2017-18, then yes.

Sir, professional fees has charged on Accrual basis. This fees is not belong to Current year.

If payer is covered under tax audit , he has to deduct tax  . As payment in a year exceeds Rs. 30K.

ok

Thank you

for example.

(Covered under Audit from F.Y. 2014-15) Fees for F.Y 2014-15 is Rs. 40000 and F.Y 2015-16 is Rs.50000 now He is Paying Professional fees of Rs. 100000, so in this case TDS in F.Y. 2016-17 not applicable Because, already paid TDS on Rs.90000(40000+50000).

(Covered under Audit from F.Y. 2016-17) Fees for F.Y 2014-15 is Rs. 40000 and F.Y 2015-16 is Rs.50000 now He is Paying Professional fees of Rs. 100000, so in this case is TDS in F.Y. 2016-17 applicable. Only Because Paying fees in this F.Y.2016-17.

" (Covered under Audit from F.Y. 2014-15) Fees for F.Y 2014-15 is Rs. 40000 and F.Y 2015-16 is Rs.50000 now He is Paying Professional fees of Rs. 100000, so in this case TDS in F.Y. 2016-17 not applicable Because, already paid TDS on Rs.90000(40000+50000)."

This one is correct option.

Thank you Sir


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