Income Tax : The Income-tax Act mandates TDS on specified payments because tax collection is intended to occur at the source of income generati...
Income Tax : Taxpayers are advised to wait until departmental records are fully updated before filing AY 2026-27 returns. Filing too early may ...
Income Tax : The amendment explicitly includes manpower supply services under contractual provisions, making 1–2% TDS applicable instead of 1...
Income Tax : ITAT rulings clarify that deduction of tax under Section 194J does not automatically classify income as professional income under ...
Income Tax : Businesses are seeking a cap on dividend taxation for resident shareholders to address double taxation concerns. The proposal aim...
Income Tax : From October 2024, payments under Section 194J (professional fees) will be excluded from TDS under Section 194C (payments to contr...
Income Tax : Following is the summary of Suggestion /representation on behalf of the taxpayers/professionals in connection with the Direct tax ...
Income Tax : A representation is been made to CBDT Chairman by leading accounting and CA Organisations of India and it is been requested that...
Income Tax : It is suggested that the TDS limit for payment of professional or technical fees under section 194J may be increased from Rs. 3000...
Income Tax : On the issue of retrospective amendment, Union Finance Minister, Shri Pranab Mukherjee has said that he had given a commitment in ...
Income Tax : ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
Income Tax : Delhi High Court held the ITAT failed to properly examine the ‘make available’ test for secondment payments, set aside its ord...
Income Tax : The ITAT Chandigarh held that no TDS was deductible where professional fees paid to each payee were below the statutory threshold....
Income Tax : The ITAT Hyderabad held that payments made for Google AdWords constitute advertising contracts under Section 194C and not fees for...
Income Tax : The dispute concerned deduction of CSR expenditure incurred before Explanation 2 to section 37(1) became applicable. The ITAT held...
Income Tax : Law Relating to Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production houses for product...
Income Tax : Circular No. F. No.275/73/2007-IT(B) Service Tax component to be considered for deducting tax on any sum paid as professional and...
The issue under consideration is whether the services, the modeling, rendered by Ms. Katrina Kaif in this case constitutes professional service and the fee paid to her for modeling with the purpose of marketing of the camera products of the assessee liable for TDS u/s 194J?
Finance Act 2020 – TDS under section 194J FA 2020 has introduced lower rate of deduction @ 2% instead of 10%, under section 194J, if the service is in the nature of: 1. Technical service; or 2. Royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films For the part of […]
In Budget 2020, Government has made various amendment either changes in existing TDS/TCS Rates or addendum new TDS/TCS Rates, A.Y 2021-22 TDS Rates Chart (Specific to Changes in Budget) Changes in Existing Rate Sr.No Nature of Payment Section Limit TDS Rate for Ind. and HUF Other than Ind. and HUF If […]
Section 194J: Professional & Technical Services – Royalty payments > As per the provisions of Section 194J of Income Tax Act 1961, any person other than Individual or HUF shall be liable to deduct TDS at 10%, if any sum exceeding INR 30,000/- is paid by way of: a) Fee for professional services, b) Fee […]
TAX DEDUCTION AT SOURCE (TDS) In order to ensure better tax compliance and ensuring the timely payment of tax to the Government treasury, a mechanism has been established by making it mandatory for certain persons responsible for making payment of some expenses to deduct tax from such payment and deposit it to the Government account. […]
Payments made by assessee towards toll-free telephone charges is royalty, in terms of section 9(1)(vi) of the Act, and is liable to deduct TDS under section 194J of the Act. We therefore are in agreement with the view taken by Ld.CIT (A).
The principle of Noscitur a Sociis is a rule of construction. It is one of the rules of language used by court to interpret legislation. This means that, the meaning of an unclear word or phrase should be determined by the words immediately surrounding it. In other words, the meaning of a word is to be judged by the company it keeps.
As per Budget 2020, TDS under section 194J at the rate of 10% is applicable on the professional Charges , royalty, remuneration or fees to director, fees for not carrying out any work , fees for not sharing any know how or patent or copyright and in case of Technical Charges, TDS is applicable at the rate of 2% under section 194J of the Income Tax Act , 1961.
A representation is been made to CBDT Chairman by leading accounting and CA Organisations of India and it is been requested that current rate of 10% under section 194J of the Act should be reduced to 2% and to Prioritise issue of lower/ nil withholding tax certificates under section 197 of the Act. Full text […]
Article explains Amendments as passed by The Finance Act, 2020 on 27 March 2020 viz viz Amendments as introduced by The Finance Bill, 2020 on 1 February 2020 related to Section 194A and SECTION 197A by which Central Government Is Empowered To Provide For A Lower Rate Of TDS, Section 194J related to TDS In […]
