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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1892)
 Accounting General interview questions  Accounting General Interview Questions (2777)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
My firm issues a cheque for Rs 28000/- today towards 
Advocate fees to Adv. Mr X. After three months the same Adv. 
Mr X is paid Rs 25000/- as Adv.fees. How do I handle the tax 
part u/s 194J of the I.T.Act? Do I have to pay TDS on the 
first paid Rs 28000/- or ignore, or while paying him the 2nd 
cheque deduct tax on Rs 28000/+ Rs25000/= i.e., Rs 53000/=. 
Or on the other hand also pay Interest on TDS on Rs 28000/= 
for delaying the payment? Trust the issue is crystal clear?
 Question Submitted By :: Sesha
I also faced this Question!!     Rank Answer Posted By  
 
  Re: My firm issues a cheque for Rs 28000/- today towards Advocate fees to Adv. Mr X. After three months the same Adv. Mr X is paid Rs 25000/- as Adv.fees. How do I handle the tax part u/s 194J of the I.T.Act? Do I have to pay TDS on the first paid Rs 28000/- or ignore, or while paying him the 2nd cheque deduct tax on Rs 28000/+ Rs25000/= i.e., Rs 53000/=. Or on the other hand also pay Interest on TDS on Rs 28000/= for delaying the payment? Trust the issue is crystal clear?
Answer
# 1
i think in this situation when Cheque of Rs. 28000.00 is
issued. it is below of threshold limt that is Rs. 30000.00
in this situation tds is not deduct because 28000.oo is
less thein 30000.

But after three month a another payment is realesd of rs.
25000. now here the total payment is become rs. 53000.00
( i.e. 28000.00+25000.00) now this amount is cross the
threshold limt( i.e. rs.30000). Now the TDS Will be deduct
on rs. 53000.00 plus interst is charges for late payment of
TDS on 28000.00
 
Is This Answer Correct ?    0 Yes 3 No
Gulzar Singh
 
  Re: My firm issues a cheque for Rs 28000/- today towards Advocate fees to Adv. Mr X. After three months the same Adv. Mr X is paid Rs 25000/- as Adv.fees. How do I handle the tax part u/s 194J of the I.T.Act? Do I have to pay TDS on the first paid Rs 28000/- or ignore, or while paying him the 2nd cheque deduct tax on Rs 28000/+ Rs25000/= i.e., Rs 53000/=. Or on the other hand also pay Interest on TDS on Rs 28000/= for delaying the payment? Trust the issue is crystal clear?
Answer
# 2
If you know the total bill amount then you deduct TDS in one
shot or after knowing the total bill amount you have to deduct
TDS for professional service. i mean Rs.53000/=
 
Is This Answer Correct ?    1 Yes 0 No
Savithramma Tv
 
 
 

 
 
 
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