Question ID :
40882
In which Quarter details can be included
payment of professional fees is as under
Q1 10000
Q2 15000
Q3 20000
Upto Quarter 2 payment of professional fees was less than Rs 30000 so no TDS is deducted but in Q3 cumulative payment has exceeded Rs 30000 so liability for payment of TDS arises on entire payment including Q1 and Q2 .
Our query is that while filing TDS return for Q3 , details of Q1 and Q2 can not be included. If we now go back to Q1 and Q2 and include these details then interest amount will have to be paid. So we want to know correct procedure.
Posted by
samirkumar gokulbhai kasvala
on
Oct 27, 2020
Filed Under
TDS/TCS
It should be shown in TDS return for Q3 only. No need to revise TDS return if Q1 and Q2.
Posted by
CA. chunauti dholakia on
Oct 27, 2020
Answer ID :
80790
The liability to deduct TDS arrises in Q3 only when it crosses the limit, so need to pay the TDS in Q3 only and hence no need to pay interest on it.
Posted by
JENIL PRANAYKUMAR SHAH on
Oct 28, 2020
Answer ID :
80792
TDS WOULD BE APPLICABLE WHEN IT CROSSES THRESHOLD LIMIT OF RS. 30000. THEREFORE, LIABILITY WOULD ARISE IN 3RD QUARTER ONLY. SHOW IT IN Q3 RETURN WITHOUT INTEREST.
Posted by
SHUBHAM SONI on
Oct 31, 2020