Question ID :
44787
082701
Whether TDS is required to be deducted if Payments exceed threshold limits i.e 50000or 20000 or 600000 (for Professional service,Brokerage and rent paymennts respectively) or payments should be below these limits
Posted by
Mahesh Kumar
on
Feb 02, 2025
Filed Under
DIRECT TAXES
Dear Sir/Mam,
TDS is required to be deducted when the limits are exceeded. TDS will be deduted on whole expense that is right from Rs. 1 if the limits are exceeded
Posted by
DIKSHA AJAY GARG on
Feb 02, 2025
Answer ID :
85644
If payments exceed the limits then TDS will be deducted on entire amount
Posted by
VINAY BHARGAV KUMAR G on
Feb 03, 2025
Answer ID :
85647
yes...TDS will be attracted
Posted by
SIVADAS CHETTOOR on
Feb 06, 2025
Answer ID :
85662
TDS (Tax Deducted at Source) is required to be deducted when payments exceed the specified threshold limits under the Income-tax Act. The applicable thresholds for TDS deduction are:
Professional Services (Section 194J): ?30,000 per financial year.
Brokerage or Commission (Section 194H): ?15,000 per financial year.
Rent (Section 194I): ?2,40,000 per financial year.
If the total payment in a financial year exceeds these limits, TDS must be deducted. If the payments are below these limits, no TDS is required to be deducted.
Posted by
CA. JHA SHANKAR KUMAR on
Feb 11, 2025