Tds Under Section 194j

Therefore to reduce litigation it is proposed to reduce rate for tds in section 194j in case of fees for technical services other than professional services to two per cent from existing ten per cent.

Tds under section 194j. 01 04 2017 the tax on payments made to operators of call centres shall be deducted at a reduced rate of 2. See updated tds chart after the relaxation due to covid lockdown. Read this post to know more.

If the recipient of income doesn t furnish his pan to deductor then tds is to be deducted 20. Section 194j tds on professional technical fees types of payments covered under section 194j. The tds rate in other cases under section 194j would remain same at ten per cent.

Every person except an individual or a huf making payment to a. We prepared this article to keep you up to date about the changes and to provide a complete overview of section 194j under tds. Any payment covered under this section shall be subject to tds at the rate of 10.

Also tds is to be deducted on fees excluding the gst component. Under section 194j rs 30 000 is the maximum limit which is applicable to each item. Tds under section 194j.

This amendment will take effect from 1st april 2020. Tds section 194j of the income tax act 1961 includes provisions regarding the tds deduction of fees for technical as well as professional services. Credit of such amount to the account of the payee or payment of such amount to the payee in cash cheque draft any other mode whichever is earlier.

Fees paid for not sharing any technical know how copyright trade mark patent or any. Who is liable to deduct tds deductor. It implies to the services carried out by an individual in the medical.