Webb13 apr. 2024 · Starting from April 1, 2024, the government has made some major changes to the Tax Deducted at Source (TDS) rules. This is a major update to the existing TDS framework and will have a huge impact on the way businesses, taxpayers and salaried individuals file their taxes. The new rules are aimed at helping the government ensure … Webb3 feb. 2024 · TDS u/s 194J needs to be deducted by deductor other than an individual or a HUF, @ 10% on any amount paid or payable to any which is in excess of INR 30,000 as: Fees for professional services Fees for technical services Any remuneration or fees or commission by whatever name called paid to a director ( other than salary) Royalty
Threshold Limit for TDS Under Income Tax Act - Tax2win
Webb11 feb. 2024 · However, TDS shall be deducted on the entire invoice value (if value of GST is not mentioned separately in the invoice) – Circular No. 23/ 2024. Rendering of … Webb13 apr. 2024 · An individual should deduct TDS at the rate of 10% when the following payments are made to a resident, in a fiscal year (higher than Rs.30,000): Amount charged as professional services fee Amount charged as technical service fee Non-compete fee according to the Income Tax Act of Section 28 (VA) Royalty most rich youtuber in the world
TDS calculation considering Threshold limits - Business Central
Webb11 feb. 2024 · However, TDS shall be deducted on the entire invoice value (if value of GST is not mentioned separately in the invoice) – Circular No. 23/ 2024. Rendering of services for procurement of orders might include technical or professional fees which then shall be subject to TDS under Section 194J. – Circular No. 715/ 1995. Webb22 apr. 2024 · Threshold TDS Rate Remarks; 192: Salary Taxable Income liable to Tax: Normal Slab Rate (or) New Tax Regime Slab Rate as opted by the employee: ... brokerage, contractual fee, professional fee to a resident person by an individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J. Webb10 feb. 2024 · 194J. (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of-. fees for professional services, or. fees for technical services, or. ( ba) any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, … minimal space coffee makers