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Jul 4, 2024 · Under Section 194J payments towards fees for professional or technical services have TDS implications. Know more about the section 194J, its rate for deduction of tax, time of deduction, consequences of non-deduction or late deduction here.
Jul 6, 2021 · SOLUTION. 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. 2021-22.
Jun 26, 2024 · According to Section 194J of Income Tax Act, any person (other than an individual or a Hindu Undivided Family) making payment to a resident for professional or technical services is required to deduct TDS at the rate of 10% or 2% as applicable of the amount paid or credited to the recipient.
Dec 13, 2021 · Section 194J of The Income Tax Act 1961, pertains to deduction of tax at source in case of fees for professional or technical services. It applies to TDS on payment of any sum by way of –. a) fees for Professional services. b) fees for Technical services.
Aug 5, 2021 · SOLUTION. 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. 2021-22.
Apr 4, 2020 · 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. Page Contents. Coverage of Section 194J of the Income Tax Act. List of notified services. Understanding the meaning of important terms –. 1. Professional Services –.
Aug 11, 2020 · Rate on TDS on fee for technical services (not being a professional service) or royalty for cinematographic films has been reduced from 10% to 2% by Finance Act, 2020 with effect from 01.04.2020. 4. Issues faced by deductor under Section 194J. Prior to 01.04.2020, Fees for technical services was liable to TDS under section 194J.
Feb 3, 2023 · Section 194J: TDS on Professional or Technical Fee - Learn by Quicko. TDS is to be deducted u/s 194J @ 10% from the payment made for Professional Fees / Technical fees in excess of Rs. 30,000. Estimated reading time: 4 minutes
Oct 7, 2020 · Section 194J – TDS on Professional or Technical Fees. Author - Rohit Pithisaria. Last Updated - October 7, 2020. Table of Contents. Any person (other than individual or huf who is not liable to audit under section 44AB who is responsible for paying to a resident. Fees for professional services. Fees for technical services. Royalty.
Types of Payments in 194J. TDS on professional fees. Fee for technical services. Remuneration paid to directors. Royalty. Payments in the nature of non-compete fees. Amendments in TDS Section 194J.
