Web3 feb 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 WebTherefore to reduce litigation, it is proposed to reduce the rate for TDS in section 194J in case of fees for technical services (other than professional services) to two per cent from …

TDS Rate Chart FY: 2024-22 (AY: 2024-23) – TDSMAN Blog

Web5 giu 2024 · Piece 9(1)(vi) of the Income Levy Act, 1961 - Royalty Earning payable to Non Resident, deemed to accrue or arise included India. Web9 mag 2024 · The ACIT (TDS), however, was of the view that assessee should have deducted tax at source on the entire amount of Rs. 1,75,56,680 @10% under section 194J and he, therefore, vide order sheet entry dated 11-3-2016 required the assessee-company to show cause as to why it may not be treated as an assessee in default for not making … datawarehouse hrsa fact sheet

Section 194J: TDS on Professional or Technical Fee

WebThe rate of TDS u/s 194J is as follows: Time of tax deduction u/s 194J The tax shall be deducted u/s 194J, being earlier of the followings: at the time of payment; at the time of credit of such income to the account of the payee Who is liable to deduct TDS under section 194J – Fees for professional or technical services Web6 ore fa · 8. Marginal Relief: The rebate u/s 87A is available on taxable income of Rs 7 Lakhs.However, those earning even marginally higher than the threshold were required to pay tax on Rs 7 lakh slabs as well. 8.1 For instance, on a taxable income of Rs 7 lakh per annum, Mr. Bombe is not required to pay any income tax due to the full rebate. Web26 feb 2016 · First payment is Rs. 35000 ( more than Rs.30000 threshold ) so He is required to deduct TDS of Rs. 3500 (at 10% of Rs.35000. ) Second payment is Rs. 10000. TDS will be Rs.1000 (10% of Rs.10000). I hope now you are clear about all points regarding TDS on professional service / technical service / directors remuneration u/s 194J. dataware house icon