TDS on professional charges
This query is : Resolved
16 September 2020
whether TDS on professional charges is applicable @ 1.5%.
Please Reply in brief.
Please Reply in brief.
KAVIRAJA ADDANGADI
(Expert)
16 September 2020
rate of TDS following two nature of payments is reduced to 2 (1.5%) per cent instead of 10 per cent (7.5%) under section 194J from 01-04-2020 by the Finance Act, 2020:
1. Fees for technical services (not being in the nature of professional services).
2. Royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films.
For others, the 10 per cent rate of TDS shall continue to apply.
the government announced various relief measures on 13 May 2020. One of these was a reduction in the tax deducted at source (TDS) and tax collected at source (TCS) rates by 25 per cent on non-salaried payments.
1. Fees for technical services (not being in the nature of professional services).
2. Royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films.
For others, the 10 per cent rate of TDS shall continue to apply.
the government announced various relief measures on 13 May 2020. One of these was a reduction in the tax deducted at source (TDS) and tax collected at source (TCS) rates by 25 per cent on non-salaried payments.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
