Section 194j fees for technical services

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August undefined, 2024

WebDifference between Sec.194JA and Sec.194JBHope you like the videoDo share your comments in the comment section.BECOME A TDS EXPERTJoin Tds Mastery Course wit... Web23 Jul 2024 · Applicability of TDS on consultants [Section 194J] The type of payments covered under this section is as follows: 1.Professional fees. 2.Fees for technical services. 3.Remuneration paid to directors excluding salary (For e.g., sitting fees to attend board meetings) 4.Royalty. 5.

Section 194J of Income Tax Act: TDS on payment to professionals

Web8 Mar 2024 · Section 194J. Section 194J states that if a payment is made to a professional and the payment is a fee for the services that they have rendered, the payee should deduct a TDS from the fee before paying it. So, suppose you pay a fee to a lawyer, architect, CA, doctor, or any other professional for their service, then you are liable to deduct a ... Web3 Dec 2024 · Scope of Section 194J of Income Tax Act: Every person (Other than an individual or HUF) making a payment to resident payee any sum by way of – Fees for professional services; or; Fees for technical services; or; Any remuneration or fees or commission is liable to deduct tax at source. This limit of Rs. 30,000/- is not a total limit … scorpion\u0027s 9b

Section 194J: TDS on Professional or Technical Services

Web4 Sep 2024 · The limit of Rs. 30,000 under section 194J is applicable separately for fees for professional services, fees for technical services, royalty and non-compete fees referred … Web7 Oct 2024 · In case of exemption limit under 194J, the limit amount of Rs. 30,000 for the F.Y. is to be considered independently for royalty, non compete fees, fee for technical … Web23 Jan 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 … prefabricated trusses prices

Section 194J TDS on Professional or Technical Service - all details

Tds On Internet, Mobile, Telephone Charges Paid To A Resident

Web10 Feb 2024 · 194J. (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of-. fees for professional services, … Web17 Jan 2024 · Amount charged as a service fee for technical assistance • Non-compete fee under Section 28(VA) of the Internal Revenue Code ... will be subject to the restrictions of … scorpion\\u0027s 9hWeb15 hours ago · ITAT Hyderabad held that payment to contract teachers doesn’t qualify as ‘fee for professional services’ and accordingly TDS under section 194J of the Income Tax Act not deductible. Facts- The common question that arises in both these appeals is whether the Honorarium/Remuneration paid to the teachers in the Government colleges is … scorpion\u0027s 9a

"Web30,000, in the case of fees for technical services referred to above; (iii) Rs. 30,000, in the case of royalty referred to above; (iv) Rs. 30,000, in the case of non-compete fee referred … " - Section 194j fees for technical services

Section 194j fees for technical services

Professional Services Vs. Technical Services U/s 194J

Web10 Jan 2024 · Section 194J TDS on Professional or Technical Service Following persons are responsible to deduct tax at source for paying fees for professional or for technical service or royalty or any sum referred to in section 28 (va) (i.e., fees for non-competence) or director fees (which is not covered u/s 192) to a resident person – Web6 Aug 2024 · As per the Finance Bill 2024, the following amendments have been made in TDS Section 194J which will take effect from 1/04/2024: - The rate at which TDS will be deducted under section 194J will be 2% in case of fees for technical services (not being professional services) and 10% of such sum in any other case.

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Web5 Jun 2024 · Section 9(1)(vi) out the Income Tax Act, 1961 - Majesty Income payable to Non Resident, deemed to accrue or arise in Indian. Web22 Apr 2024 · Inches esteem of foreign payments, TDS u/s. 195 is quite a grey area of the Indian Total Tax Act (act). Every payment to adenine non resident is not liable for TDS u/s. 195.. A decision-making as until the coverage the optional payment u/s. 195 requires determination about taxability of income in the clutches a NUMBER recipient- not only …

Web28 Jan 2024 · Chetan Chauhan , 28 January 2024. Share. Section 194J of the Income Tax Act pertains to the TDS on fees for professional or technical services. According to this section, any person, including an individual or a company, who is responsible for paying to any sum as fees for professional or technical services, is required to deduct TDS. Web3 Aug 2024 · According to Section 194J, the maximum limit that may be applied to any item or payment on its own is 30,000 Indian Rupees. Even if the sum is not considered part of …

Web6 Jul 2024 · Note – It may be noted that individuals and HUFs are not required to deduct tax at source under section 194J on royalty and non-compete fees even if turnover in the … WebTDS on professional fees or fees for technical services falls under Section 194J and is charged at a rate of 10% when payments are made to residents. Examples of careers where TDS is deducted at the source includes professions such as law, architecture, interior design, medicine, advertising, etc. Tax payments made by individuals working in these …

Web12 Apr 2024 · Under section 194Q, TDS is required to be deducted on the purchase of goods where the total purchase value from a particular supplier exceeds Rs. 50 lakh in a financial year. The TDS rate is 0.1% of the purchase value exceeding Rs. 50 lakh. On the other hand, TDS on services is covered under section 194J/194C of the Income Tax Act.

WebRecently in the 48th meeting of GST Council it has been proposed the procedure for refund to unregistered person. I have written the article in Dec-22 itslef… prefabricated trench drainsWeb15 Apr 2024 · Professional fees/fees for technical services are one of the most significant types of payments made by a business organisation. Fee payments made to doctors, … scorpion\u0027s 9iWeb15 hours ago · ITAT Hyderabad held that payment to contract teachers doesn’t qualify as ‘fee for professional services’ and accordingly TDS under section 194J of the Income Tax … prefabricated tree houseWeb22 Feb 2024 · Under Section 194J, the TDS rate for fees paid for technical services is 2% of the payment, while the TDS rate for fees paid for professional services is 10% of the … prefabricated tub and shower surroundWeb26 May 2024 · Illustration of TDS Payment Threshold under Section 194J Mr. Roy has received Rs. 25,000 for technical services and Rs. 15,000 for professional services. The … prefabricated trussesWeb30,000 in case of fees for professional services or; 30,000 in case of fees for technical services or; 30,000 in case of royalty or; 30,000 in case of sum referred under section 28(va) The amounts are calculated for each of the above categories separately. Professional Services covered under section 194J prefabricated trusses manufacturersWeb10 Jan 2024 · Section 194J would be applicable when any amount paid to the resident person as :-. Fees for Professional Services Rendered. Fees for Technical Services … scorpion\u0027s 9k