Section 94j tds

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August undefined, 2024

Web6 May 2024 · The present article features the TDS provisions contained under section 194J of the Income Tax Act, 1961 relating to the TDS deduction on fees for professional or technical services.. Coverage of Section 194J of the Income Tax Act. Categories of the person covered under section 194J. Every person, except an individual or a HUF, making … WebThe TDS deduction rates under Section 194J of the Income Tax Act are as below: Payment Nature. Section 194J TDS Rate. Technical services fee payment. 2%. Call centres fee payment. 2%. Royalty paid for the screening, distribution and sale of a movie. 2%.

Amendment in TDS Section 194J by Finance Act, 2024

Web29 Jan 2024 · Section 194J provides for deduction of income tax from the payments made towards fees for professional or technical services at the rate of 10 per cent. The rate of … Web15 Apr 2024 · Section 194J requires TDS to be deducted if the payment for professional or technical services covered by this section surpasses Rs.30,000 per year. Will payments … mediamonkey add radio station

Amendment in TDS Section 194J by Finance Act, 2024

Web5 May 2024 · The payer must deposit the tax deducted with the government against the PAN of the payee within the applicable due dates. Further, the payer would also need to furnish … Web28 Mar 2024 · Currently TDS is deducted under Section 194J At 10% on following payments Professional Technical Royalty Non Compete Fees As per Recent budget announced on 1 … Web28 Jan 2009 · If a retired Conl. running a security and detective agency and makes two bills. one for securit gaurds charges under contract with client and another against detective services. Are TDS will be deducted on both bills under section 194C or. 1. u/s 194C on bill of security gaurds charges. 2. u/s 194J on bill of detective work done. penelope story lab facebook

Tds on 94J Technical Fees. [Resolved] Income Tax - CAclubindia

Tax Laws & Rules > Acts > Income-tax Act, 1961

Web13 Mar 2024 · Amendments To Section 194J. Section 194J of the TDS has been amended as part of the Finance Bill 2024. These include: In the case of fees for technical services (which are not considered professional services), tax will be deducted at the rate of 2%. In all other cases, the rate will be up to 10%. An individual or HUF whose revenue, gross ... Web21 Jan 2024 · TDS under section 194J is to be deducted when the amount of fees (or aggregate of amounts of fees) credited or paid or likely to be credited or paid during the financial year exceed Rs.30000. Point to be noted is that the limit of Rs.30000 is applicable separately for the all mentioned services. penelope stewart actressWeb21 Jan 2024 · Section 194J (194JA/194JB) of Income Tax Act provides the TDS related to professional or technical services. And while making payment for such services, you have … penelope spheeris age

"Web>ANNEXURE: DEDUCTEE/PAYEE WISE BREAK UP OF TDS ... third proviso to section 194N or on account of notification issued under fourth proviso to section 194N. 11.:ULWH³2´LIQ o deduction is as per the provisions of sub-section (2A) of section 194LBA. ... 94J -A 194J(b) Fee for professional service or royalty etc. (@10%) 94J -B 194K Income in ... " - Section 94j tds

Section 94j tds

Section 194J TDS on Professional or Technical Fees - Tax2win

WebSection 194DA: Payment in respect of life insurance policy. w.e.f. 1/9/2024, the tax shall be deducted on the amount of income comprised in insurance pay-out. 5. Section 194EE: … WebNote 1: Consider tax treaties before determining the rate of withholding tax under Section 195. Note 2: Monetary limit for TDS applicability should be considered while determining TDS liability. Advisory: Information relates to the law prevailing in the year of publication/ as indicated .Viewers are advised to ascertain the correct position/prevailing law before …

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Web18 Mar 2024 · TDS Section 194J of the Income Tax Act 1961 includes provisions regarding the TDS deduction of fees for technical as well as professional services. We prepared … Web3 Aug 2024 · What is section 194J under the Income Tax Act? Section 194J stated that any person who is paying fees to any resident person for specified services, then TDS is required to be deducted u/s 194J.However,TDS is to be deducted when amount of payment in a year exceeds Rs.30,000/- at the rate of 10%.

Web(1) Any person responsible for paying any sum to any resident (hereafter in this section referred to as the contractor) for carrying out any work (including supply of labour for … Web29 Mar 2024 · Only if the payment exceeds the prescribed limit, then TDS provisions will be applicable. For example, as per the provisions of Section 194J, no TDS required to be deducted if payment of professional fees do not exceed Rs, 30,000/-. So, here the threshold limit is Rs. 30,000 and TDS needs to be deducted only if it exceeds 30,000.

Web4 Apr 2024 · Section 194J TDS on Fees for Professional or Technical Services. The present article features the TDS provisions contained under section 194J of the Income Tax Act, … Web27 Apr 2024 · Tax deduction at source (TDS) or withholding tax is a prime tax collection mechanism for the government and also a source for information collation to plug …

Web6 Jul 2024 · Section 194J TDS on Professional or Technical Fees: 194K: Section 194K TDS on Income In Respect of Units of Mutual Fund: 194-LA: Section 194LA TDS on Payments …

Web5 May 2024 · In the backdrop of the provisions of section 195, any person making any payment to a non-resident is required to obtain TAN and deduct tax at the applicable rates. The payer must deposit the tax deducted with the government against the PAN of the payee within the applicable due dates. Further, the payer would also need to furnish the TDS … mediamonkey chromecast audioWeb4 Aug 2024 · Tds on 94J Technical Fees. We have received a notice for short deduction of 94J Technical Fees for 10% and 7.5%, whereas w.e.f. from 01-04-2024 94J Technical fees is 2% and w.e.f. 14-05-2024 is 1.5%. We have deducted Tds for 94J Technical services at 2% and 1.5% and paid the amount. Now the dept has sent the notice stating that it is for 94J ... mediamonkey asioWeb21 Mar 2024 · Section 194J breaks in two different rates 2% and 10% for fees for technical services and fees for professional services respectively (w.e.f. 01/04/2024) However, the … mediamonkey auto organizeWebTDS return. As per section 201(1A), interest for delay in payment of TDS should be paid before filing the TDS return. Basic provisions relating to due date of payment of TCS to the credit of Government Section 206C gives various items on which tax is to be collected at source. The tax so mediamonkey cloud storage penelope texas countyWebSection - 194J. Fees for professional or technical services. 6 Record (s) Page [1 of 1] in 0.046 seconds. TAX INFORMATION AND SERVICES. TAX LAWS & RULES. … mediamonkey amazon musicWebAnswer / rajni. These are the code alloted from Income Tax for particulars. TDS. 1]94c for Deducting TDS from Contract or Subcontract or. Adviretisement. 2]94J for Deducting TDS from Professional Fees or. Consultancy. charges or Technical Fees. 3]94I for Deducting TDS from Landlord [Rent] penelope the blue koala