Rate of tds dedcution for rendering of it related services
Querist : Anonymous
Pls let me know the Rate of TDS dedcution for Rendering of IT related Services hired on contract basis
The person is claiming for 1% Deduction , to my instinct it should be 10%,
since the Services rendered by him comes under Professional services,
Pls reply
Also provide any other base for objection for 1% Deduction
Regards
This notification has been under section 44AA to notify the Information Technology as a Profession.
.
Further, Section 194J requires, TDS to be deducted @ 10% on professional services.
In this section Explanation- (a)covers the notified professions also.
Querist : Anonymous
i think this will be sufficient..
Once again many thanks for the reply
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