Professional fee tds section
Webb3 apr. 2024 · Under Section 234E, the person who is required to deduct/collect TDS/TCS will have to pay a fine of Rs 200 (two hundred) per day until the TDS return is filed. The deductor of TDS shall be liable to pay this for every day of delay until the fine amount is equal to the amount you are supposed to pay as TDS. Webb17 feb. 2024 · TDS on professional fees or technical services is to be deducted by the person making payment for such services. The same has been provided under Section …
Professional fee tds section
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Webb17 feb. 2024 · Multiple Choice Questions on TDS on Fees for Professional or Technical Services – Section 194J of Income Tax Act MCQ 1 – TDS on Professional Fees Shyam … Webbआयकर अधिनियम की धारा 194J के अनुसार, पेशेवर या तकनीकी सेवाओं में कार्यरत व्यक्ति अपने आय स्रोतों से सीधे 10% की निर्धारित दर पर आयकर का ...
WebbPayment on account of purchase through local L/C. (Section 52U) Respective Bank or Financial Institutions. 3% on the amount paid or credited not being in the nature of Disributor Financing. 1% on the amount paid or credited in case of Distributor Financing Agreement. Tax shall be deducted at the rate of. two percent (2%) in. Webb22 apr. 2024 · TDS or tax deducted at source is a process of collecting Income Tax at source by the GOI (Government of India). It is a deduction of tax from the original source of income. It is essentially an indirect method of collecting the tax that combines the concepts of “pay as you earn” and “collect as it is being earned.”.
The type of payments to residents covered under this section are as follows: 1. Professional fees 2. Fees for technical services 3. … 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 … 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 Webb21 juni 2024 · To set up TDS in vendor master. TDS Section and concessional codes need to be defined for each vendor that is liable to TDS. Multiple TDS sections can be …
WebbSection 194M of the Income Tax Act, 1961 states that for all the transactions with effect from September 1, 2024, Tax @ 5% or 3.75% should be deducted (depending upon the Date of Payment/Credit to the Deductee) by the Payer/Deductor at the time of making ‘Payments to Resident Contractors and Professional’ Tax so deducted should be deposited to …
Webb10 feb. 2024 · fees for professional services, or fees for technical services, or ( ba) any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company, or royalty, or any sum referred to in clause ( va) of section 28, dr. sandra godekWebb28 juli 2024 · How much TDS can be deducted under section 194j? TDS will be deducted under Section 194J at rate 2% in case of fees for technical services (not being … ratio\u0027s zrdr sandoz neurologyWebb6 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. dr sandoz scWebb3 dec. 2024 · It shall be calculated individually for payment as professional fees or technical fees or royalty or non-competence fees. However, below persons are not liable … dr sandra giron jimenez teaneck njWebb3 aug. 2024 · According to Section 194J, the maximum limit that may be applied to any item or payment on its own is 30,000 Indian Rupees. Even if the sum is not considered … dr sandra gold planoWebb6 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 … dr sandoz neurologist