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Tds limit on 94j

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 The threshold limit of INR 1 Crore is for aggregate cash withdrawn from an account during the Financial Year.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 https://creafleurs-latelier.com

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

Section 194C - TDS on Payments to Resident Contractors

Category:TDS on Purchase of Goods u/s 194Q Tally Solutions

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Tds limit on 94j

Section 194J TDS on Professional or Technical Fees

WebFeb 3, 2024 · Which services are covered under section 194J and what is the limit to deduct TDS u/s 194J? TDS u/s 194J needs to be deducted by deductor other than an individual … Web36 rows · Mar 29, 2024 · For example, as per the provisions of Section 194J, no TDS required to be deducted if payment of professional fees do not exceed Rs, 30,000/-. So, …

Tds limit on 94j

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WebMay 10, 2024 · TDS Under Section 194J (a) & 194J (b) The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, … WebAug 4, 2024 · 04 August 2024 Dear All, We have received a notice for short deduction of 94J Technical Fees for 10% and 7.5%, whereas w.e.f. from 01-04-2024 94J Technical …

WebJul 15, 2011 · Is TDS deductible on Pest Control Services (each month Bill of Rs. 15470/-) if yes then Under Sec 94C or 94J ?? Is TDS deductible on Security & Guard Bills (each … WebThis Video is all about TDS 194C Threshold Limit FY 2024-23, TDS and TDS Rate Chart by CA Ground. Under Income tax TDS 194 C plays a very important role.Here...

WebAnswer (1 of 7): According to section 194J treat as consultancy fee charged to the client. Against your fee client deduct TDS under section 194J. Now come on your point which … WebApr 13, 2024 · Rate Of TDS As Per Section 194C. As per the provisions of Section 194C of the Income Tax Act, the rate of TDS that is applicable depends on certain conditions mentioned below:. If the payee or contractor possesses PAN: TDS of 1% of the amount will be deducted from any payments or credits made to resident individuals or Hindu …

WebJan 23, 2024 · The minimum TDS exemption limit specified under Section 194J as of AY 2024-20 is Rs. 30,000 per annum for all individuals and entities including call centres …

WebJun 26, 2024 · Since the limit did not exceed for the first time, No TDS should be deducted on Rs. 10,000. However, the threshold limit of Rs 30,000 (for professional services) is crossed while making payment for the second time. toy maths theatreWebAug 3, 2024 · What is the limit to deduct TDS u/s 194J? TDS is required to be deducted if the amount of payment in a year exceeds Rs. 30,000/-. Now a question may arise in your … toy mate baby dollsWebJun 21, 2024 · Zero. Less than Single Transaction Threshold Limit 30,000. Forth Invoice. 20000. 2%. 2,140 (2% of 1,07,000 i.e. total of all invoices) Exceeds TDS Threshold Limit 1,00,000. GL Entries for TDS where payment is less than threshold limits (first transaction where vendor has given the invoice for INR 29,000), will be as following: Particulars. toy math theaterWebDec 4, 2010 · Presently the amount I received from college will be approximately 80,000 p.a. Also I found that as per sec 194J if one will get professional income above Rs. 20,000 during a financial year then only TDS will be deducted. However my cheque from college was just Rs. 4,500 (Total amount Rs. 5,000/- and TDS deducted 10%) toy matinee - last plane outtoy matinee lyricsWebApr 13, 2024 · Under Section 194J, Rs.30,000 is the maximum limit which is applicable to each item or payment independently. TDS under this section is also applicable on … toy matinee ‎cd long boxWebMar 18, 2024 · Now let’s take a look at amendments due to Finance Bill 2024. TDS will be deducted under Section 194J at rate 2% in case of fees for technical services (not being … toy math games