Section 194j of it act

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August undefined, 2024

Web6 Aug 2024 · Finance Act: TDS on Royalties where such royalty is in the nature of consideration for sale, distribution or exhibition of a cinematographic film will also be subjected to TDS @ 2% 6. Applying for TDS at a Lower Rate. According to Section 197, the person receiving payment can apply for a reduction of rate in TDS, through filling in the … Web17 Jun 2024 · Rates of tax deduction. Given below is a list of deduction rates made in TDS under 194J: Technical service payments: 2%. Call centre operators’ payments: 2%. Royalty …

Section 194J - TDS on Professional or Technical Fees

Web24 Nov 2009 · Section 194J of the Income-tax Act, 1961 - Deduction of tax at source - Fees for professional or technical services - Applicability of provisions under section 194J, in … Web14 Nov 2024 · Professional Services (Sec 194J and 44AA): Payment for Medical, Legal, Architectural, Engineering, Accountancy, Advertising, Interior Decorator and Technical … handicraft website

Impact of Amendment by Finance Act, 2024 on Non-Resident/Not …

Web20 Mar 2024 · Section 194J of the Act inter alia includes ‘royalty’ for the purposes of deduction of tax at source. The assessee conteded that the revenue sharing expenses incurred by the assessee in the nature of royalty is not covered within the sweep of Section 194J of the Act in view of the specific exclusion provided for consideration for the sale, … WebAfter section 194-1 of the Income-tax Act, the following sections shall be inserted with effect from the 1st day of July, 1995, namely:— '194J. Fees for professional or technical services … WebSection 194J of Income Tax Act is regarding TDS deduction for payments made to professionals & technical service providers. Know what is section 194J of income tax at 5paisa. सेक्शन 194J - व्यावसायिक किंवा तांत्रिक सेवांसाठी टीडीएस 5Paisa handicrat

Payment to Film Distributors for Exhibition of Film not ... - Taxscan

TDS under Section 194J : Detailed Analysis - taxguru.in

Web13 Apr 2024 · 194J (b) Fee for professional service or royalty etc. 30000 10 10: 194K: Payment of dividend by mutual Funds: 5000: 10: 10 194LA: Compensation on transfer of certain immovable property other than agriculture land 2.50Lakh 10 10 194LA: Immovable Property (TDS exempted under RFCTLARR Act (wef 01.04.2024) – – – 194LA: Immovable … Web16 Mar 2024 · Section 194J of the Income Tax Act, 1961 is an important provision that governs the deduction of TDS on payments made for professional or technical services. The provision is applicable to various categories of persons and requires TDS to be deducted at the rate of 10%. bushman the gorilla historyWebGauge within Professional & technical company Section 194J Take one look at our tax classifications for common business recent . For helps in determining that correct classification(s) for your corporate, or if thee have received a return that does not have the classification(s) you need, contact us . bushman tourism

"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 … " - Section 194j of it act

Section 194j of it act

Section 194J : Fees for Professional or Technical Services - Paisab…

Web30 Mar 2024 · TDS under this section is calculated on the estimated income earned during the year at an average tax rate. Unlike other sections of TDS under Income Tax, there is no fixed rate of TDS under section 192. To compute the rate of TDS, the estimated total tax liability on such estimated income is divided over the period of employment i.e. months. Web15 hours ago · Per contra, it is the submission on behalf of the assessees that section 194J of the Act, by way of explanation ualifies the expression ‘fee for professional services’ and viewed from that angle, the payments made in this case are not for ‘fee for professional services’. Reliance is placed on CBDT Notification No. 88/2008 dated 28/01/2008.

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Web6 Jul 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 … Web26 Jul 2024 · “(a) Whether on the facts and in the circumstances of the case and in law, the ITAT was justified in holding that tax was deductible from payment of outsourcing …

Web30 Aug 2024 · It was, therefore, held that the assessee is liable to deduct tax at source under section 194J of the Act in place of 192 of the Income Tax Act, 1961. The Tribunal noted that the month-wise salary sheet was also prepared by the college on the basis of the attendance register of the employees. Web10 Apr 2024 · Anand Mohan, Counsel for the revenue supported the contentions of the lower authorities. The Co-ordinate Bench, after analyzing the facts of the case and various …

Web4 Nov 2024 · Section 194J of the IT Act states that a person is liable to deduct TDS at a 10 per cent rate while making certain types of payments of more than ₹ 30,000 to a resident. TDS must also be... Web19 Jun 2024 · 1.1. Section 194J of Income Tax Act 1961 (“the Act”) provides for tax deduction at source (TDS) on any sum payable to a resident by way of-. i. fees for professional services or. ii. fees for technical services or. iii. any sum payable as royalty or. iv. any sum referred to in section 28 (va) of the Act, generally known as ‘non-compete ...

Web6 Apr 2024 · Section 194J of the Income Tax Act, 1961 pertains to the deduction of tax at source (TDS) on technical and professional services. The following are the technical …

Web8 Mar 2024 · While Section 194J is quite simple, there are some terms and conditions for TDS deductions that you should know about. These terms and conditions are as follows: … handic tvd2211dvdWeb25 Jun 2024 · Section 194J of the Income Tax Act of 1961, in particular, lays out the criteria for tax deducted at source (TDS) on a variety of technical and professional services … bushman toursWeb9 Apr 2024 · The Mumbai Income Tax Appellate Tribunal (ITAT) has recently held that roaming charges paid by Vodafone India to other telecom operators are not subject to Tax Deduction at Source (TDS) under section 194C or 194J of Income Tax Act, 1961. Assessee-Vodafone India Ltd. filed the appeal against the order of Commissioner of Income Tax … handicraft items manufacturers in jodhpurWeb5 Jun 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, … bushman the gorilla lincoln park zooWebSection 194J. TDS (Tax deduction at source) has been proven to be a very successful method of collecting tax in the country. It has made life easy for both the government and taxpayers. It has helped the government curb the evasion of tax to a certain extent by making it mandatory for all business entities to deduct tax if certain expenses ... bushmans water tanks price listWeb13 Jun 2012 · SECTION 197A, READ WITH SECTION 194J OF THE INCOME-TAX ACT, 1961 – DEDUCTION OF TAX AT SOURCE – NO DEDUCTION IN CERTAIN CASES – SPECIFIED PAYMENT U/S 197A(1F) ... (F.NO.142/10/2012-SO (TPL)], DATED 13-6-2012. In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 … handieasy parisWeb3 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: … handicraft wholesaler in india