whether tds to be deducted for honorarium paid to visting experts or speakers or professors?
waiting for your suggestions.....
Alvin K Jose (Article) (34 Points)
24 January 2017whether tds to be deducted for honorarium paid to visting experts or speakers or professors?
waiting for your suggestions.....
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 24 January 2017
Yes TDS need to deducted us 194J
www.mytaxfiling.in
info @ mytaxfiling.in
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 24 January 2017
if the bill value exceeds Rs30000/= tds under 194J
Alvin K Jose
(Article)
(34 Points)
Replied 24 January 2017
thank you sir.
by saying 'the bill value", do you mean a single payment or total payment during the year?
AJAYA PRUSTY
(Cost Accountant)
(26 Points)
Replied 24 January 2017
venkata akarsh.grandhi
(articles assistant)
(190 Points)
Replied 24 January 2017
Yes, if total payment to an individual for the year exceeds Rs.30,000/- then TDS to be deducted @ 10% as per section 194J
Chitransh gupta
(Student)
(87 Points)
Replied 24 January 2017
Alvin K Jose
(Article)
(34 Points)
Replied 25 January 2017
if the total honorarium payment during the year exceeds 30000 or payment to a single person exceeds 30000, tds to be deducted?
Amitav
(Chartered Accountant)
(5993 Points)
Replied 25 January 2017
As per section 194J of Income Tax Act, 1961, a person is required to deduct TDS @ 10% on following payments paid to a resident in excess of Rs. 30,000 during a financial year :
-Fees for professional services or
-Fees for Technical Services
-Royalty or
-Non compete fees as referred under section 28(VA) of Income Tax Act.
Threshhold limit of Rs. 30,000 as specified under 194J is applicable to each payment separately i.e. applicable independently to each of four items.
Amitav
(Chartered Accountant)
(5993 Points)
Replied 25 January 2017
Honorarium will come under 194J and so it's applicable to deduct TDS as per 194 J