Tds u s 194j
Web10 mag 2024 · – Tax deduction rate for u/s 194J (a) is 2% and for 194J (b) is 10% – In case of payee fails to furnish PAN, he will be liable to pay TDS at the rate of 20% Threshold Exemption Limit In case of payment does not exceed the directed Threshold exemption limits, TDS will not be deductible. Web2 ott 2024 · Section 194J of the Act originally provided for deduction of income tax from the payments made towards fees for professional or technical services at the rate of 10%. A new category was added wherein TDS @ 2% was provided by Finance Act 2024. The amendment has reduced the rate of TDS for payments made towards ‘fees for technical …
Tds u s 194j
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Web9 mag 2024 · The limited issue in this appeal is whether the assessee was to deduct tax at source (TDS) @ 10% as per section 194J of the Act or whether tax was to be deducted @ 2% as per section 194C of the Act. WebTypes of payment covered u/s 194J; What is the threshold limit for deducting tax u/s 194J; What is the rate of TDS under section 194J – Fees for professional or technical …
Web26 giu 2024 · What is the limit to deduct TDS under Section 194J ? TDS is required to be deducted under Section 194J if the payment towards professional or technical services … Web20 mag 2024 · The disallowance under Section 40(a) (ia) for non-deduction of TDS u/s 194H as well as 194J on account delivered by the assessee to its distributors was not acceptable; as a ‘principal-agent relationship was absent.’ As a consequence, benefit extended to distributors could not be preserved as commission under Section 194H.
Web13 apr 2024 · SECTION 194J of the Income Tax Act FEES FOR PROFESSIONAL OR TECHNICAL SERVICES Professionals or technicians are those persons qualified and experienced in a specific profession. Fees are paid in consideration for any technical managerial services rendered. Web5 giu 2024 · (1)When “technical services” are provided in the course of a specified profession as detailed under section 194J by any Individual, partnership, LLP, then since they will also be categorized as “professional services”, they will not qualify for the benefit of lower rate of TDS since the wordings are “fees for technical services (not being …
Web12 apr 2024 · Threshold Limit under Section 194J: TDS is required to be deducted if the amount of payment in a year exceeds Rs. 30,000/-. Rate of TDS: Non-Applicability of Section 194J: Section 194J shall not be applicable in following cases: Where the payment made by an individual or HUF is for personal purposes only.
Web22 gen 2024 · The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, 194J(a) and 194J(b), effective … kundli lite software download for pcWebUnder what circumstance TDS u/s 194J is not deductible. In the following circumstances TDS requirement u/s 194J is not applicable: If the amount of fees for professional and technical services is lower than Rs 30,000/-. No threshold limit applies to the director’s fee. kundli lite software free downloadWeb14 apr 2024 · The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, 194J(a) and 194J(b), effective … kundli locationWeb6 ago 2024 · Section 194J requires deduction of tax at source @10% from the amount credited or paid by way of fees for professional services, where such amount or aggregate of such amounts credited or paid to a person exceeds Rs. 30,000 in the F.Y. 2024-22. margaret mary health main campusWeb23 gen 2024 · As per Union Budget 2024, the TDS rate for the payment of fees for technical services under Section 194J of Income Tax Act has been reduced to 2% from 10%. The TDS rate for the payment other professional services except that for technical services remains same at 10%. This change in TDS rate will come in effect from 1st April, 2024. kundli marriage predictionWeb13 apr 2024 · Section 80TTA is Income Tax provision where an individuals can claim a deduction of upto Rs. 10,000 on interest income. Know more about section 80TTA deduction at 5paisa. kundli lite for windows 11Web1 giorno fa · ITAT Delhi held that addition of rental income as undisclosed merely because tenant as wrongly deducted TDS u/s. 194J is unsustainable as landlord cannot be blamed for wrong deduction of TDS. Facts- Assessee contested addition of Rs. 3,15,000/- treating rent received from M/s VM Rubber Industries as undisclosed income as TDS was … kundli manesar palwal expressway latest news