WebApr 28, 2024 · As the assessee had not deducted any TDS, the AO made disallowance of Rs. 2.46 Crore under section 40 (a) (ia) of the Act for non-deduction of TDS. The CIT (A) relied on the decision of the Bombay High Court rendered in the case of CIT vs. Intervet India Pvt. Ltd. (ITA No.1616 of 2011) and decided the issue in favour of the assessee. WebTDS or Tax Deducted at Source is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest etc. by the persons ... The threshold limit of INR 1 Crore is for aggregate cash withdrawn from an account during the Financial Year. ...
What is the difference between TDS on advertising u/s 194C and …
Web38 rows · Threshold limits under Income-tax Act. J. Deduction of tax at source and Advance tax. 1. No deduction of tax at source from salaries. 192. If net taxable income is less than … WebAnswer (1 of 8): Under 194c TDS will be decuted at 1% if payment is made to individual/HUF and 2% if payment is made to any person other than individual/HUF. Under 194j TDS will be deducted at 10% in all cases. Under 194j if payment made in a financial year to same person is less than 30,000 rs t... toy mate online
Section 194J – Fees for professional or technical …
WebJun 16, 2024 · Section 193 – TDS on interest on securities: A TDS of 10% is to be deducted for individual and HUF on interest from securities received if the limit of Rs. 5000 on debentures and 10,000 on others are crossed. Section 194 – TDS on deemed dividend: There is a 10% TDS deduction rate on income from dividend if the limit of Rs. 5,000 is … WebAug 6, 2024 · Note-The limit is applicable separately for each of the above services under section 194J i.e. if the payment to a person towards each of the above categories is less than Rs 30000 but exceeds Rs 30000 in aggregate TDS is not to be deducted.5. What are the conditions for non-applicability of TDS Section 194J? TDS Section 194J is not … WebOct 2, 2024 · The amendment has reduced the rate of TDS for payments made towards ‘fees for technical services’ to 2%. These two sections 194JA and 194JB are just the display parts (segregated section codes) of section 194J of the Act for the purpose of filing e-TDS returns to distinguish deduction of tax (TDS) under section 194J either at 2% or 10%. toy mate prams