Professional fee tds section
WebbIndian residents covered under this section are expected to pay 10% TDS from payments received via professional or technical services. From April 1, 2024, onwards, TDS for technical services are applied at a reduced rate of 2% for deductions. WebbTDS rate specified on professional fee is 10%. TDS required to be deducted = 10% on Rs 1,00,000 = Rs 10,000. Net payment to Mr. XYZ = Gross Amount – TDS Deducted = Rs …
Professional fee tds section
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Webb11 aug. 2024 · Section 194J contains provisions related to deduction of TDS on professional Fee and Technical fees which requires deduction of TDS @ 10%. However, … Webb7 feb. 2024 · TDS is applicable on various payments like contractor payments, ... commission or professional fee (other than 194C, 194H, 194J) Rs. 50,00,000: 5%: 5%: …
Webb4 feb. 2014 · The Board had issued a Circular No.4/2008 dated 28-04-2008 wherein it was clarified that tax is to be deducted at source under Section 194-1 of the Income-tax Act, 1961 (hereafter referred to as ‘the Act’), on the amount of rent paid/payable without including the service tax component. Webb8 mars 2024 · 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 …
Webb6 maj 2024 · tds on fees for professional or technical services section 194j – किसी भी तरह की प्रोफेशनल या टेक्निकल सर्विसेज के लिए अगर किसी तरह की फीस का कोई भुगतान किया … Webb7 okt. 2024 · Rate of deduction of tax. The payment of professional fees, technical charges and royalty have an interest rate of 10%. When we make payments to call center …
Webb17 jan. 2024 · Under Section 194J, the maximum limit is Rs.30,000, which applies to each item or payment separately. Commissions, remuneration, or fees paid to a company’s …
Webb30 mars 2024 · Section 206AA - As per this section if the deductee does not provide valid PAN to the deductor, TDS shall be deducted at higher of the following rates: For payments under sections 194O and 194Q : At higher rate of 20% or applicable TDS Rate, whchever is higher. For payments under sections other than 194O and 194Q : At higher rate of 5%. mcdonalds 99 ave lower buckeyeWebb28 juli 2024 · TDS will be deducted under Section 194J at rate 2% in case of fees for technical services (not being professional services) and rate reach up to 10% of such sum in any other case. Do you have to deduct TDs on membership fees? tds on subscription for membership fees. lfs sh fwdv 3Webb6 aug. 2024 · 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. 2024-22. lfs servicesWebb6 aug. 2024 · 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 … mcdonalds 99th ave and bell rd sun city azWebb5 juni 2024 · Technical Services U/s 194J of Income Tax Act, 1961. This analysis has assumed great importance due to the amendment of section 194J by the Finance Act, … mcdonalds 9th street corvallis oregonWebb13 dec. 2024 · 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 … mcdonalds 9805 s main houston txWebbför 15 timmar sedan · 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 … lfs slackware