Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 January 2012
Sir,
How will we differentiate a service whether it is contract or professional fees? When we apply u/s 194C and 194 J
How will we differentiate a service whether it is contract or professional fees? When we apply u/s 194C and 194 J
12 January 2012
TDS on Professional or Technical Services (Section 194J)
Nature of payments covered:
a)Fees for professional services
b)Fees for Technical Services
c)Royalty
d)Receipts in the nature of non-compete fees and exclusivity rights as specified u/s 28(va).
Who is liable to deduct: Any person other than individual and Hindu Undivided Family. However, individual and HUF are also covered if they are liable to get their accounts audited u/s 44AB. In other words, individual and HUF, if their gross receipts/turnover exceed the limits specified in section 44AB, are also liable to deduct tax at source from payments they make.
Professional Services: Areas covered
Legal Profession
Medical Profession
Engineering
Architect
Chartered Accountants
Technical Consultancy
Interior Decoration
Advertising
Authorised Representatives other than employee of the person represented. Authorised Representative does not mean a chartered accountant or an Advocate. However, payments to them are also subject to tax deduction.
Film artistes including actor, cameraman, director, music director, art director, dance director, editor, singer, lyricist, story writer, screenplay writer, dialogue writer, dress designer.
Company Secretary
Profession of Information Technology.
Technical Services: Areas Covered
Rendering of managerial services.
Rendering of technical services.
Rendering of consultancy services.
The above areas exclude consideration for construction, assembly, mining or similar project undertaken by the recipient. It also excludes payments which are taxable under the head “Salaries”
Nature of payments covered:
a)Fees for professional services
b)Fees for Technical Services
c)Royalty
d)Receipts in the nature of non-compete fees and exclusivity rights as specified u/s 28(va).
Who is liable to deduct: Any person other than individual and Hindu Undivided Family. However, individual and HUF are also covered if they are liable to get their accounts audited u/s 44AB. In other words, individual and HUF, if their gross receipts/turnover exceed the limits specified in section 44AB, are also liable to deduct tax at source from payments they make.
Professional Services: Areas covered
Legal Profession
Medical Profession
Engineering
Architect
Chartered Accountants
Technical Consultancy
Interior Decoration
Advertising
Authorised Representatives other than employee of the person represented. Authorised Representative does not mean a chartered accountant or an Advocate. However, payments to them are also subject to tax deduction.
Film artistes including actor, cameraman, director, music director, art director, dance director, editor, singer, lyricist, story writer, screenplay writer, dialogue writer, dress designer.
Company Secretary
Profession of Information Technology.
Technical Services: Areas Covered
Rendering of managerial services.
Rendering of technical services.
Rendering of consultancy services.
The above areas exclude consideration for construction, assembly, mining or similar project undertaken by the recipient. It also excludes payments which are taxable under the head “Salaries”
12 January 2012
http://www.incometaxquery.com/tds/tdsoncontractors.html
Also see below link for details.
Also see below link for details.
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 January 2012
Sir,
Thank you for your quick reply.
Thank you for your quick reply.
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