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Tds under section 104j

TDS 697 views 2 replies

Dear All,

I have made a payment to a consultant on 01/07/2012 amounting to Rs. 25,000. At that time as the transaction is below Rs. 30,000, so i have not deducted TDS under section 194J. Now, i am making another payment of Rs. 55,000 to same consultant and deduct TDs on the whole amount of Rs 80,000.

My query is that whether interest is also required to paid for late deduction of TDS for Rs. 25,000. 


 

Replies (2)

if u can deduct tax @ 10% on rs 80000/- payment amount & u can satisfactorly explain,then no interest is required to pay.

 

NOt at all,you just have to pay TDS only no need to pay interest as there is no late deduction of TDS. 

Assuming that you have paid TDS of RS. 8,000/- today (i.e on  30.11.12)


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