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TDS Under Section 194 M
is TDS under section 194M applicable on payment by an Individual Who is liable to tax audit and Who makes payment for professional fee for personal purpose and amount exceeds Rs 50.lakhs
Replies (3)
You have made the query very clear. As you are saying the assess is liable for Tax audit and hence this section is not applies to them. Sec 194 M clearly says it's applies for those whose accounts are not audited and who is making payment above 50 lakes.
Please Note when the accounts are audited the TDS has to be deducted under Sec 194C or 194J.
Let's know if any doubt. Thank You.
Thank u for the reply
Actually my query is - since section 194J is not applicable in case of an assesse paying professional fee for personal purposes, in that case does the Section 194 M attracts?
Actually my query is - since section 194J is not applicable in case of an assesse paying professional fee for personal purposes, in that case does the Section 194 M attracts?
Yes in that case section 194M applicable
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