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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Answer Posted / gulzar singh
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/-
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