Regarding change in TDS Rate 194 J
This query is : Resolved
Anil sharma
(Querist)
14 April 2020
From 01 april 20 section 194 J has 2 rate (2 % and 10 %). if Invoice is of April 20 but service is of Mar 20, then tds will be deducted from old rate or new rate.
Please also provide any FAQ, Clarifation from Income Tax department regarding when new rate will be applcable from the date of invoice is 01 april or when service is of april 20.
Please also provide any FAQ, Clarifation from Income Tax department regarding when new rate will be applcable from the date of invoice is 01 april or when service is of april 20.
14 April 2020
It all depends on when the expenditure is booked. If the expenditure is booked on mercantile basis in March, then old rate and if it is booked in April, then new rate.
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