Igave a cheque of Rs 25000/- to a Professional. Do I deduct TDS on Rs 25000/, then after three months I further pay the same Professional Rs 40000/-.Have I to pay Tds on 25000 Or Rs 65000/- or only Rs 40000/-,Have I to pay interest on delayed payment for Rs 25000/-?
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in case professional fee TDS is deductables if
professional fee is excess of Rs. 30000/-
In this question Tds Is deductable amount is Rs. 65000/-
no interest willbe charged for delay payment of TDS on
25000/-
TDS is charged @ 10% of 65000/- that is Rs. 6500/-
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / kishan maurya
you deduct the tds on Rs.65000/- three is no need to pay
intrest amount on Rs.25000/-
10% on Professional
65000 *10%= 6500
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / bijender sharma
If there is single payment 30000 or more and exceeds 70000 annually then it is liability to deduct tax at source
| Is This Answer Correct ? | 1 Yes | 0 No |
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