Income tax act 194j
Web1 day ago · In respect of payment for preventive health check-up: In the case of an individual: (A) where the aggregate of such payment does not. Exceed rs. 5,000. the whole of such sum; (B) where the aggregate of such payment exceed. Rs. 5,000. Rs. 5,000. Tags: income tax act 1961, Income Tax Deductions. 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 ...
Income tax act 194j
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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 […] WebSep 30, 2024 · The following rate applies to the services listed under section 194J of the Income Tax Act: Particulars. Rate of Tax Deducted At Source. The payee is engaged in the …
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. WebMar 8, 2024 · The Income Tax Act, 1961 has specified different sections for TDS deductions on payments. These sections highlight the TDS deductible from different types of …
WebThe TDS deduction rates under Section 194J of the Income Tax Act are as below: Payment Nature. Section 194J TDS Rate. Technical services fee payment. 2%. Call centres fee … WebThe Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, ... 1961 Income Tax Department > All Acts > Income-tax Act, ... 194J. Fees for professional or technical services. 6 Record(s) Page …
WebJan 22, 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 …
WebApr 4, 2024 · The present article features the TDS provisions contained under section 194J of the Income Tax Act, 1961 relating to the TDS deduction on fees for professional or … simplyk sign inWebFeb 7, 2024 · 194J: Fees paid for professional services: Rs. 30,000: 10%: 10%: 194J: Amount paid for technical services: Rs. 30,000: 2%: 2%: ... on salary is compulsory under section 192 of the Income Tax act. An employer who pays wages to his/her employee must deduct TDS from the salary if the total income exceeds a certain threshold. 2. What is the TDS ... raytheon north berwick maineWeb1 day ago · Dist. Intermediate Educational Office Vs Income Tax Officer (TDS) (ITAT Hyderabad) 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 … raytheon north andover maWebJan 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 TDS rate for the payment other professional services except that for technical services remains same at 10%. This change in TDS rate will come in effect from 1st April, 2024. raytheon north buildingWebAug 11, 2024 · Provisions related to TDS are given under Chapter XVII-B of the act. 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. raytheon nmesisWeb2 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 ... simply k salon frankfortWebAug 3, 2024 · What is section 194J under the Income Tax Act? Section 194J stated that any person who is paying fees to any resident person for specified services, then TDS is … raytheon norfolk