ADHIP KUMAR MISRA (ACCOUNTS MANAGER) (176 Points)
15 March 2022I shall make a payment of Rs 30000 to an individual towards project consultancy charges . This is the first time we are making any payment to him . Is any TDS deductible ? Is the threshold limit crossed ? If yes, then at what % shall I deduct TDS ?
Eswar Reddy S
(CFO- at NHTF)
(58252 Points)
Replied 15 March 2022
CA Puja Sharma
(Chartered Accountant)
(4914 Points)
Replied 15 March 2022
If you are not going to get any other bill from the project consultant other than this Rs. 30,000 then you are not required to deduct any TDS.
However, the aggregate of the charges exceeds Rs. 30,000 in a year or Rs. 30,000 per bill then TDS is liable to be deducted.
ADHIP KUMAR MISRA
(ACCOUNTS MANAGER)
(176 Points)
Replied 15 March 2022
Thank you , this information will help
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