Income tax act 194j

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August undefined, 2024

WebSection 194J OF INCOME TAX ACT I TDS ON PROFESSIONAL FEES I 194J TDSHiI am CA Vijay Gupta, welcome you all to our YouTube Channel CA Vijay Gupta .I am into ... WebMay 26, 2024 · 26 May 2024. Income Tax. According to Section 194J of the Income Tax Act, TDS (Tax Deducted at Source) is deducted against fees paid for professional or technical services. TDS is also deducted for paying Royalty and commission/remuneration to Directors under Section 194J. This article gives you all the details – when TDS should be …

Fees for professional or technical services

WebJun 14, 2012 · (i) the software is acquired in a subsequent transfer and the transferor has transferred the software without any modification, (ii) tax has been deducted- (a) under section 194J on payment for any previous transfer of such software; or (b) under section 195 on payment for any previous transfer of such software from a non-resident, and WebSection 194J of the Income Tax Act deals with the payments made in the form of professional or technical fees to doctors, lawyers, accountants, etc. As per the rules and … the pillars of the earth hardcover

Insertion of new sections 194J and 194K

WebOct 2, 2024 · As per the utility of e-TDS provided, section code 194JA is assigned to denote deduction of tax under section 194J @ 2% whereas section code 194JB is assigned to … WebAug 11, 2024 · Section 194J contains provisions related to deduction of TDS on professional Fee and Technical fees which requires deduction of TDS @ 10%. However, the Finance Act, 2024 reduced the rate of TDS from 10% to 2% for few payments under section 194J. 1. Applicability of Provisions of Section 194J WebApr 8, 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 … the pillars of wellness

Fees for professional or technical services

A Guide to Section 194J of Income Tax Act - margcompusoft.com

WebApr 11, 2024 · The Finance Ministry, inserted sub section 2 to Section 194 R in the Indian Income Tax Act, 1961 with effect from 1st July 2024. The objective of this insertion was … WebApr 13, 2024 · 30% for residents, 40% for non-. residents, 25% for individuals & HUF. 30% for residents, 40% for non-. residents, 25% for individuals & HUF. 194LC. Income by way of interest by an Indian specified company to a non- resident/foreign company on foreign currency approved loan/long-term. infrastructure bond ‘from outside India. the pillar technique is used by what playersWebMay 26, 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 … the pillay case

"WebJun 22, 2024 · The Supreme Court of India in its recent judgement has held that no deduction under section 80IB of the Income Tax Act, 1961 is allowable on profit from Duty Entitlement Pass Book Scheme (DEPB) / duty drawback schemes. The appellant, M/s. Saraf Exports challenged the impugned judgment and order passed by the High Court of […] " - Income tax act 194j

Income tax act 194j

Tax Laws & Rules > Acts > Income-tax Act, 1961

WebMar 8, 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: … WebSection - 194J. Fees for professional or technical services. 6 Record (s) Page [1 of 1] in 0.046 seconds. TAX INFORMATION AND SERVICES. TAX LAWS & RULES. INTERNATIONAL TAXATION.

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WebSection 194J of the Income Tax Act focuses on provisions regarding TDS deduction by a payer while making payments to a resident individual for providing specified technical and … WebSep 30, 2024 · Section 194J of the income tax act is applicable to every person, not being an individual or a HUF, who makes a payment in respect of the services notified is under …

WebApr 12, 2024 · The present article features the amendment to TDS section 194J of the Income-tax Act, 1961 by the Finance Act, 2024.. As per the proposed amendment to TDS section 194J, TDS on fees for technical services (other than professional services) is reduced from 10% to 2% with effect from 1st April, 2024.Till 31st March, 2024, the TDS … WebNov 23, 2024 · The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, 194J (a) and 194J (b), effective from August 7 2024. u/s 194J (a) of the Income Tax Act, is related to TDS deduction on fees for Technical Services, and u/s 194J (b) of the Income Tax Act is related to TDS deduction on …

Web2 days ago · Facts- Assessee contested addition of Rs. 3,15,000/- treating rent received from M/s VM Rubber Industries as undisclosed income as TDS was deducted u/s 194J instead of 194I of the Income Tax Act. Notably, assessee has shown rental income of Rs. 3,15,000/- in his return of income and had claimed deduction u/s. 24 of the Income Tax Act @ 30% as ... Web[As amended by Finance Act, 2024] Tax deducted at source from interest other than interest on securities (Section-194A), from fees for professional services/technical services/royalty (Section-194J) and from interest on securities (section 193) For quick and efficient collection of taxes, the Income-tax Law has incorporated a system

WebWhat is Section 194J of the Income Tax Act? According to Section 194J of Income Tax Act, a person employed in professional or technical services is liable to pay income tax at the prescribed rate of 10% directly from their income sources.

WebJun 25, 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 … the pillars of wisdomWebAug 6, 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, … siddharth aggarwal criminal lawyerWebAccording to 194A of Income Tax Act, TDS is deduct ible at 10%. If a recipient does not furnish his/her PAN to a deductor, then TDS is applicable at 20%. However, there will be no … the pillar technique for defeating blocksWebJan 23, 2024 · As per Union Budget 2024, the TDS rate for the payment of fees for technical services under Section 194J of Income Tax Act has been reduced to 2% from 10%. The … the pillars of the earth goodreadsWebApr 15, 2024 · According to the rules and regulations of Section 194J of the Income Tax Act, 1961, a person must deduct their Tax Deducted at Source (TDS) only at the rate of 10% … thepillaystableWebFeb 17, 2024 · TDS under section 194J of Income Tax Act shall be deducted at the earlier of the following two occurences : – Credit of technical fees or professional fees or Royalty or … siddhartha hermann hesse chapter summaryWebJun 26, 2024 · What is Section 194J under the Income Tax Act ? Section 194J governs the TDS provisions related to specified services. Any person paying fees to any resident … siddhartha hermann hesse book online