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17 Οκτ 2024 · Section 194JB of Income Tax Act requires that any person, excluding individuals and Hindu Undivided Families (HUF) not subject to a tax audit, must deduct Tax Deducted at Source (TDS) when paying fees for professional services.
4 Ιουλ 2024 · Tax Deducted at Source (TDS) helps collect taxes by targeting income sources. Section 194J covers payments for professional and technical services. Deductions have a threshold limit of Rs. 30,000. Non-compliance has consequences such as disallowance of expenditure and interest levy.
4 Απρ 2020 · Every person making payment of the following notified services is required to deduct TDS under section 194J of the Income Tax Act, 1961 –. Fees paid for not sharing any technical know-how, copyright, trade mark, patent or any other business or commercial rights of the same nature. 1. Professional Services –.
22 Ιαν 2021 · 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 2020. 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 fees ...
24 Σεπ 2024 · Section 194JB of the Income Tax Act mandates that any person (excluding individuals and Hindu Undivided Families (HUF) who are not subject to tax audit) paying fees for professional services must deduct TDS at a specified rate.
26 Ιουλ 2024 · Section 194JB covers tax deducted on expenditures made for hiring professional or technical services. This particular section further details the taxation coverage of Section 194J, which deals with tax liabilities incurred for paying any resident of the country to avail of such services.
21 Μαρ 2020 · Who is liable to deduct TDS u/s 194J? A.1. Any person, other than in individual or a HUF, who is responsible for paying to a resident any sum by way of:- 1. Fees for professional services, 2. Fees for technical services, 3.
