Professional services tds section

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August undefined, 2024

WebbSo, I recently found out that they are filing TDS under 192J(b) section which is TDS on professional fee. So, I am actually not a employee. They are also providing payslips with zero salary breakdown. They just mention 5000 TDS on 50000 Salary. No basic salary, no allowances, no PF, no insurance, zero breakdown. How should I respond to this ... WebbProfessional Services covered under section 194J. Professional services means services which are notified by the board under section 44AA and sports person, coaches and …

Section 194J Under TDS for Technical/Professional …

Webb28 mars 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 Feb 2024 Now on Technical Service TDS will be deducted at 10% On Remaining Services, TDS will be deducted at 2% Why TDS Rate Reduced-Analysis Webb144 rader · Section 194S:Payment on transfer of Virtual Digital Asset Note: No tax shall … hobby shops new jersey

TDS on Fees For Professional or Technical Services - TaxGuru

Webb3 okt. 2024 · Professional Services, means services rendered by a person in the course of carrying on legal, medical, engineering or architectural profession or profession of accountancy or technical consultancy or interior decoration or advertisement or Authorised Representatives or Film Artists or Company Secretaries or Profession of Information … Webb3 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. Webb6 aug. 2024 · TDS Section 194J is a provision in the Income Tax Act 1961 that deals with the deduction of TDS on fees for technical and professional services. The section is getting attention again after the Finance Bill 2024, which has made some revisions to it. The revised version of the section will come into effect from 1/04/2024. hsi mechanical inc

TDS on Professional Fees Section 194J of Income Tax Act

Webb16 mars 2024 · Transcript. SECTION DESCRIPTION CUTOFF RATES 194J Professional Service/Technical/Royalty/ Non Compete fees 30000 p.a SERVICES COVERED EXAMPLES Rate PROFESSIONAL CA/CS/CMA /CONSULATANCY ETC 10% TECHNICAL TECHNICAL WORK/IT RELATED SERVICES 2% ROYALTY FEES FOR USING … Webb26 maj 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 … hsimfgincWebbAbout. Seasoned Finance & Operations Professional with nearly 2 decades of career dotted with impactful roles in Financial Accounting, Accounts Receivables and Payables, Journal Entries & General Ledger, Invoices & Expense Reports Payment Transactions, TDS, Compliance, and Audit Support. Proficient in supervising the month-end closing process ... hobby shops new haven ct

"Webb21 jan. 2024 · Section 194J (194JA/194JB) of Income Tax Act provides the provision for deduction of TDS while making payment to residents for availing profession or technical services.For the purpose of TDS, section 194J provides the TDS rate which is to be used for deducting tax. If you are availing services of professional or technical then you must … " - Professional services tds section

Professional services tds section

Section 194M – TDS on payment to resident contractors and professionals

Webb15 apr. 2024 · Types of payments covered under Section 194J. An individual should deduct TDS at the rate of 10% when the following payments are made to a resident, in a fiscal … Webb20 mars 2024 · A simplified version of section-wise TDS rates given below. Most frequently searched sections where highlighted with ★ from the normal taxpayer perspective. Consider the 2024 annoucement on TDS rate changes at TDS Amendments in 2024 Our Tax Services Online IT Filing GST Accounting Software Expert Services Tax Expert …

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WebbIn this video we will discuss the basic provisions of tds on fee for professional or technical services u/s 194J.for more about TDS Provision visit our *ALL ... Webb8 maj 2024 · Union Budget 2024 New TDS Provisions Section 194R- TDS on Providing Benefit or Perquisite to Businesses. TDS should be deducted by any person who …

The type of payments to residents covered under this section are 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 … Visa mer The tax should be deducted at the time of- 1. Passing such entry in the accounts or 2. Making the actual payment of the expense, whichever … Visa mer Every person making a payment in the nature of fees for professional or technical services is liable to deduct tax at source. However, below persons are not liable to deduct TDS on such payments: 1. In case of an individual or HUF … Visa mer Webb17 feb. 2024 · TDS Rate under section 194J of Income Tax Act. TDS shall be deducted @. 2% of fees for technical services (not being a professional services), or royalty where …

Webb12 juni 2024 · Section 194J of Income tax act, 1961 speaks about the applicability of TDS provisions on Professional and Technical services. Before understanding the difference between both these services, below is key highlights of this section 194J. 1. Professional services fees. 2. Technical services fees. 3. Remuneration paid to directors excluding … Webb23 nov. 2024 · TDS on Professional or Technical Services. This article deals with the provisions of TDS on professional or technical services covered under the Income Tax …

Webb3 feb. 2024 · TDS Sections. Last updated on February 3rd, 2024. Professional/Technical fee is one of the most important types of payment that the business entity makes. If the …

Webb10 jan. 2024 · The following article is an explanation and analysis of the provisions of TDS in relation to professional and technical under Section 194J of the Income Tax Act and its application accordingly. Professional Services. Activities pursued by the following persons are referred to as Professional services : Architectural professionals Legal ... hsi med schoolWebb10 jan. 2024 · Section 194J – TDS on Professional or Technical Service, This article is all about the Tax to be deducted under section 194J for the Professional fees or technical services which are to be deducted in case of the payments to be made to them. hobbyshopsolution.comWebbTele Design Services is a woman owned, professional services organization specializing in the strategic planning, design / build, … hsi mcallen tx office hsi membership scamWebb14 dec. 2024 · TDS on fee for Professional and Technical Services 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 hobby shops online usaWebb12 okt. 2024 · TDS at 5% will be deducted under 194M if the total amount paid to a resident exceeds Rs 50,00,000 in a particular financial year. The TDS rate is 3.75% for transactions from 14 May 2024 until 31 March 2024. In case the PAN of the deductee is not available, then TDS will be deducted at 20%. hsi medic oneWebbför 15 timmar sedan · Dist. Intermediate Educational Office Vs Income Tax Officer (TDS) (ITAT Hyderabad) ITAT Hyderabad held that payment to contract teachers doesn’t … hsi medical clearance form