You can book a consultation with me for further detailed discussions.
You can make payment upto an amount of Rs. 10000 without deducting TDS. If you intend to deduct TDS, you can make a payment of Rs. 7200, with 800 (10% of the total amount) deducted as TDS.
Pl. let us know about the amount paid is a salary/remuneration or any other form of payment.
Limit is 10000 for the year and 30000 for single payment. So you dont have to pay
Amount payable/paid not exceeding Rs.2,40,000 during the financial year: No tax is required to be deducted in case the amount of rent due or paid does not exceed Rs.2,40,000 from FY 2019-20 onwards.
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Sir, Please clarify in which concern you are paying for. because there are different sections in the Income tax act, 1961 regarding TDS deduction and collection. Please Clear your question.
before answering this query can you specifically provide the facts so on the basis of that i can provide you with the appropriate solution. As in most cases if there is a firm then 10% is deducted.
Firstly kindly clarify what sort of payment it is.Also,No TDS has to be deducted if this amount is the salary of the individual as it is below the basic exemption limit.
To answer this question I need to know the nature of payment. TDS percentage changes with the nature of services. Please feel free to arrange a call on this matter.
A person can be paid up to INR thirty thousand for a single transaction without deducting TDS. If gross total payment to the same person exceeds INR fifty thousand in one financial year, then TDS have to be deducted for the total amount. TDS rates vary from services to services. Hence, we must know what type of services are offered against the payment. For more detailed discussion, you can book consultation by clicking this link https://kanoongurus.com/lawyer-details/rajat-chaudhary/51
