Interested to Buy Any Domain ? << Click Here >> for more details...
how to calculate tds on professional fees, salary and services
- 4 Answers
- 22610 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
interest paid to bank rs.15000 in conection with statutory income tax proceedings.
We paid advance rent of office for next 6 months, when should we pay the TDS into bank, is it will monthly or it will be in advance?
what is the tax that is levied if company crosses 1.5 crores turnover
Parties from where we can deduct TDS in a manufacturing company?
Can CST credit be claimed on CST paid? Is there a concept like Cenvat credit in CST just like in VAT?
how many form 38(Road permit) can issue in one month or in one time
A Accounts Manager of a Company ask You have complete knowledge about income tax. The question is that What things involve in complete income tax
The value on which entry tax is payable is called?
What is the last date for filing of returns for TDS, ESI, PF, Professional Tax, Income Tax, Service Tax and Income Tax?
21 Answers ABC, Balaji, Bony Polymers, Chetak Logistics, Classic Network, ESI, JCI, Meghmani, Nishant Mouldings, PK Power Systems, Power, SRCON, Unicorn DenMart,
What are the types of provident funds?
can anyone tell me rates of TDS for payment of contract, consultancy, advertizing, statioenry, salary, professional charges, technical fees, & honorarium for the financial year 2008-09
1)How to calculate HRA in Income tax 2)Kindly give me Item list applicable for Tax deduction with their Amt limit and section (Ie Lta,grautity)
Audit 
