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Tds u/s 194j applicability

WebSection 194J TDS of the Income Tax Act of 1961 contains rules for deducting TDS on payments for scientific and skilled services. This article was written to keep you informed … WebAug 6, 2024 · TDS Section 194J is not applicable in the following cases: - If the prescribed payment is made by an individual/HUF. However, if the payment is made by individual/HUF who falls under *44AB (a)/44AB (b) is liable to deduct TDS under section 194J.

Section 194J TDS on Professional or Technical Fees

Web1 day ago · Dist. Intermediate Educational Office Vs Income Tax Officer (TDS) (ITAT Hyderabad) 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 … WebFeb 3, 2024 · If the provisions of section 194D of the Income Tax Act, 1961 are applicable, the Deductor shall deduct TDS at the following rates: The rate of TDS will be 20% in cases where the deductee has not quoted PAN. TDS Calculator Tax Deducted at Source (TDS) is a part of Income Tax. TDS should be deducted by a person for specific payments made. … lead singer of the intruders https://compare-beforex.com

TDS Rate Chart AY 2024-25 (FY 2024-24) - thetaxtalk.com

WebTDS u/s 194C or 194J Hi, I need to know the tax applicability would be under 194C or 194J. thanks. This thread is locked. You can follow the question or vote as helpful, but you … WebJan 22, 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 … WebJun 28, 2024 · Although TDS deduction u/s 194Q is applicable from 01-07-2024, total purchase shall be aggregated from 01-04-2024 to 01-04-2024 for F.Y. 2024-22. Whether non-residents also have to deduct TDS u/s 194Q? Yes. If any non-resident is purchasing goods of more than Rs. 50 lacs form a single seller in India, they have to deduct TDS on it. lead singer of the interrupters

TDS U/s 194Q when purchasing the goods- Applicability

Category:Section 194J - TDS on Fee for Professional or Technical Services

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Tds u/s 194j applicability

Section 194J - TDS - Professional, Technical Fees

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Tds u/s 194j applicability

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WebThough the assessee has deducted TDS u/s 194C in respect of software expenses in view of the nature of expense, the assessee ought to have deducted TDS u/s 194J. Therefore, a show cause notice was issued and asked the assessee as to why the assessee shall not be treated as an assessee in default u/s 201(1) / 201(1 A) of the Act . WebNov 14, 2024 · Applicability: Section 194J of Income Tax Act, 1961 applies to payments made to residents as Fees for Professional Services, Fees for Technical Services, …

WebFeb 3, 2024 · TDS u/s 194J needs to be deducted by deductor other than an individual or a HUF, @ 10% on any amount paid or payable to any which is in excess of INR 30,000 as: Fees for professional services Fees for technical services Any remuneration or fees or commission by whatever name called paid to a director ( other than salary) Royalty WebJul 29, 2024 · Section 194J – TDS – Professional, Technical Fees- Any person who is paying fees to any resident person for specified services, then TDS is required to be deducted u/s 194J @ 10% if such payment in a year …

WebApr 13, 2024 · TDS on e-commerce participants: 5 Lakh: 1%(01.10.2024) 1% (01.10.2024) 194P: TDS in case of Specified Senior Citizen: Not Applicable: Rates in Force 194Q: TDS … WebMay 10, 2024 · The provisions of section 194Q would apply to a buyer, whose total sales, gross receipts or turnover from the business carried on by him exceeds INR 10 Crore during the financial year immediately preceding the financial year, in …

WebJun 25, 2024 · So TDS u/s 194C is applicable and not Equalization Levy. Check whether the bill is issued by Indian company or US company, etc for Facebook USA or Facebook India, google.com or Google India, etc All reference to section numbers above refers to …

http://www.munimji.co.in/academic/blogs/14-income-tax/456-tds-on-professional-or-technical-services-section-194j.html lead singer of the headstonesWebJun 15, 2024 · TDS under section 194C is not required to be deducted in following cases: The amount of payment made to the contractor in a single contract which does not exceed Rs.30,000.If the aggregate amount of such contracts in a financial year exceeds Rs.1,00,000 then TDS will be deducted. When any amount is paid to the contractor by an individual or … lead singer of the lovin spoonfulWebDec 8, 2024 · Section 194I for TDS on rent will be applicable whether or not the payee owns any or all of the above. Section 194I of the Income Tax Act, 1961 is applicable to lease as well as sub-lease of any of the above assets. Very often the landlord or owner of any asset demands a security deposit at the time of renting the assets. lead singer of the hollies groupWebFeb 22, 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 … lead singer of the outfieldWebJun 26, 2024 · TDS is required to be deducted under Section 194J if the payment towards professional or technical services covered under this section exceeds Rs 30,000 per annum. Which services are covered under Section 194J ? Services covered for TDS … lead singer of the honeycombsWebThere are certain payments as mentioned above, such as technical services which attract GST (18%) and which also attract TDS under Section 194J of the IT Act. There was a lot of confusion whether TDS was going to be deducted on the full amount including GST or not. lead singer of the guess whoWebJul 29, 2024 · Section 194J – TDS – Professional, Technical Fees- Any person who is paying fees to any resident person for specified services, then TDS is required to be deducted u/s … lead singer of the newsboys