WebFeb 21, 2024 · Engineering services for transportation projects: 18: 998335: Engineering services for power projects: 18: 998336: Engineering services for telecommunications … Web2 hours ago · Conclusion- It is, therefore, clear that while requiring the persons responsible for paying to a resident any ‘fee for professional services’ to deduct the TDS at a specified rate, by way of explanation it is provided that for such purpose, the “professional services” shall mean services rendered by a person in the course of carrying on ...
Section 194J - TDS - Professional, Technical Fees
WebAug 3, 2024 · 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 mind whether this threshold limit is the overall limit for all services covered u/s 194J or it shall be calculated individually for payment of professional fees or technical fees etc? WebMar 14, 2011 · 3 Replies. it does not come under professional service hence if there is contract deduct tds u/s 194C. 1% for individual or HUF or 2 % for others. Making a project model is in nature of profession and not in terms of contract, so you must deduct tax @ 10%. Project model is in the nature of engineering services & hence is considered as … gvp 1 1 2 travel iron reviews
TDS On Advertisement Charges Should Be Deducted - V J M
WebApr 13, 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 WebDec 14, 2024 · This implies that the rate of TDS is 10% in case of fees paid for professional services while it is 2% in case of fees for technical services. As the rate of TDS is different for professional services and technical services, looking into the difference between the two is the need of the hour. Let us go into the definitions of both as provided ... Web4. Royalties and fees for technical services would be taxable in the country of source at the following rates : a. 10 per cent in case of royalties relating to the payments for the use of, or the right to use, industrial, commercial or scientific equipment; b. 20 per cent in case of fees for technical services and other royalties. boylan funeral home pa