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how to calculate tds on professional fees, salary and services
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Answer / sunil
Tds is deductable at the rate of 10.3% of professional and
technical service if the total agreegate amount exceeds
amount 30000/-
Suppose a person submit the invoice of amounting Rs 6000/-
Per month. Now total services is 72000/- which is exceed the
amount of 30000/-
So we deduct Tds on First invoice at the rate of 10.3%
=6000*10.3%
balance amount should be released.
| Is This Answer Correct ? | 36 Yes | 8 No |
Answer / sachin sharma
Ist Answer is fully correct, 2nd is wrong
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / smilesagar
professional charges is rs 15000/- per month, 15000*12=180000/-
180000*10%=18000/12=1500
we shouldn't deduct the aggregate 30000/- amt
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / shanavas k
professional charge is rs 15000/-per month,individual total
professional charge is rs 15000*12=180000,excemption limit
is rs 30000/-only
calculation
total fees:15000*12=180000
exception limit:30000
150000*10.3/100/12
ie 1287.5 is the one month TDS
| Is This Answer Correct ? | 9 Yes | 10 No |
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