Hi Experts,
Can someone help me to clarify my confusion?
As per the Income Tax Act 2025, Section 393 Table Column B(Nature of income or sum), Fees for Pofessional services section is 393(1)(6)(iii)(b) and Fees for Technical Service Section is 393.6(iii)(b).
But as per the TDS traces document, Fees for technical services Section is 393(1) [Table: Sl. No. 6(iii).D(a)] & Fees for professional services is 393(1) [Table: Sl. No. 6(iii).D(b)].
And as per the new rules we need to consider payment section code 1026 - Fees for technical services and 1027 - Fees for professional services. This code now plays vital role in return filing.
Under Form 131 under 'Nature of Payment' field what to fill? 26Q /27Q return (I am still waiting for the updated FVU file specification)
1. Payment code 1026
2. Section 393(1)(6)(iii)(b) as per Table Column B of the Act or
3. Section as per the TDS Traces 393(1) [Table: Sl. No. 6(iii).D(b)]
Thank you
AP
