Section 194j fees for technical services

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August undefined, 2024

WebSection 194J of the Act provides that any person, not being an individual or a HUF, who is responsible for paying to a resident any sum by way of fees for professional services, or fees for technical services, or any remuneration or fees or commission by whatever name called (other than those on which tax is deductible under section 192 of the … WebFees for professional or technical services:i) sum paid or payable towards fees for technical servicesii) sum paid or payable towards royalty in the nature...

SECTION 194J : TDS ON FEES FOR PROFESSIONAL OR TECHNICAL SERVICES ! CA …

Web26 May 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 this … Web22 Apr 2024 · Inches esteem of foreign payments, TDS u/s. 195 is quite a grey area of the Indian Total Tax Act (act). Every payment to adenine non resident is not liable for TDS u/s. 195.. A decision-making as until the coverage the optional payment u/s. 195 requires determination about taxability of income in the clutches a NUMBER recipient- not only … improve a slow hdd

Section 194J – TDS for Professional or Technical Services

Web7 Apr 2024 · Section -194J – Professional Fees, Technical services, Royalty, Non-Compete Fees & Director Remuneration . ... now apply if the Gross Receipts / Turnover is INR 1 Crore or more for Business and INR 50 Lakhs or more for Profession -Section 194A, 194C, 194H, 194I, 194J. Thus, irrespective of applicability of Tax Audit provisions, TDS provisions ... WebThe High Court has elucidate the difference between standard facility provided and technical services rendered. Relying on judicial precedents, the Court has explained payments that could be covered as services for carrying out work under section 194C vis-à-vis services that could be fees for technical services covered under section 194J. Web3 Dec 2024 · Scope of Section 194J of Income Tax Act: Every person (Other than an individual or HUF) making a payment to resident payee any sum by way of – Fees for professional services; or; Fees for technical services; or; Any remuneration or fees or commission is liable to deduct tax at source. This limit of Rs. 30,000/- is not a total limit … improveasy.com

Deduction under Section 206AB – EazeWork Help Center

Web3 Mar 2024 · Section 194 J – TDS on a fee for Technical or Professional Services. The two most common ... WebTDS on professional fees or fees for technical services falls under Section 194J and is charged at a rate of 10% when payments are made to residents. Examples of careers where TDS is deducted at the source includes professions such as law, architecture, interior design, medicine, advertising, etc. Tax payments made by individuals working in these … improve as ones skills crosswordWeb28 Dec 2024 · The TDS rate for technical services as per section 194J is 2%. Whereas, the TDS rate for professional services as per section 194J is 10%. Q.4 Who is liable to deduct … lithia of eugene oregon

"Web26 Jun 2024 · Services provided by coaches for sports activities are notified as professional services under section 194J. Also, the amount of remuneration is more than Rs 30,000 per annum. Therefore, the Badminton Club is liable to deduct TDS under section 194J from … 194J: R: Any sum paid as a fee for technical services: 30,000: 2%: 194J: R: Any sum … " - Section 194j fees for technical services

Section 194j fees for technical services

Tds On Internet, Mobile, Telephone Charges Paid To A Resident

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 TDS for both the 'fees for professional services' and 'fees for … Web17 Jun 2024 · Given below is a list of deduction rates made in TDS under 194J: Technical service payments: 2% Call centre operators’ payments: 2% Royalty payments made on behalf of sale, distribution or exhibition of cinematographic films: 2% Other payments covered under this section: 10% Absence of PAN card information: 20% When is the tax deducted?

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WebA perusal of the above reproduced observations made by the ld. CIT (A) while accepting the appeal of the assessee reveals that the ld. CIT (A) has followed the various decisions of the co-ordinate benches of the Tribunal to hold that the assessee was not liable to deduct TDS either under section 194-I or section 194J on the 'Wheeling and ...

Web15 hours ago · 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 … Web15 Aug 2024 · Introduction. In the case of fees for technical services, tax deducted at source (“TDS”) under Section 194J of the Income Tax Act, 1961 (“IT Act”) has been …

Web6 Aug 2024 · As per the Finance Bill 2024, the following amendments have been made in TDS Section 194J which will take effect from 1/04/2024: - The rate at which TDS will be deducted under section 194J will be 2% in case of fees for technical services (not being professional services) and 10% of such sum in any other case. Web19 Aug 2016 · Section 194J – TDS on Fees for Professional or Technical Services The activities carried out by Clearing and Forwarding Agent (C&F Agent) form one Composite “Work”, and Any Payments to such agents will attract deduction of tax at source only under section 194C of the Act.

WebSection 194-IC: Payment of monetary consideration under Joint Development Agreements: 10: 10: Section 194J: Payment for fees for Technical services, Professional services or royalty etc. (Monetary Limit –Rs 30,000 p.a) a) Cases, wherein, the payee is engaged in the business of the operation of Call Centre only: 2: 2

Web26 May 2024 · Illustration of TDS Payment Threshold under Section 194J Mr. Roy has received Rs. 25,000 for technical services and Rs. 15,000 for professional services. The … improve asset liability managementWebPayments that are protected by Section 194J. When making the following payments to a citizen in a fiscal year (over Rs.30,000), a person can subtract TDS at a rate of 10%: The … improve as a personWeb17 Feb 2024 · The same has been provided under Section 194J of the Income Tax Act. For example, the following fees are covered under Section 194J: – Professional fees paid to lawyers, doctors, chartered accountants, architects, advertisers, etc – Technical services fees of rendering of managerial, technical or consultancy services. improve a skill through practice crosswordWeb15 hours ago · 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 the Honorarium/Remuneration paid to the teachers in the Government colleges is … improveasy google reviewsWeb7 Feb 2024 · Section 194J: TDS Rate. The section pertains to TDS (Tax Deducted at Source) on professional or technical fees. The current rate of TDS for this section is 2% for any … lithia of grand forksWeb30,000 in case of fees for professional services or; 30,000 in case of fees for technical services or; 30,000 in case of royalty or; 30,000 in case of sum referred under section 28(va) The amounts are calculated for each of the above categories separately. Professional Services covered under section 194J improveasy ltd manchesterWeb23 Jul 2024 · Applicability of TDS on consultants [Section 194J] The type of payments covered under this section is as follows: 1.Professional fees. 2.Fees for technical services. 3.Remuneration paid to directors excluding salary (For e.g., sitting fees to attend board meetings) 4.Royalty. 5. improve ashes of war