Tds on bar code subscription fee

whether tds to be deducted against payment made to GS1 for bar code subscripttion fee?
Replies (8)
Quick Summary
This discussion clarifies whether Tax Deducted at Source (TDS) needs to be applied to payments made to GS1 for barcode subscription fees. It confirms that TDS is applicable under Section 194J of the Income Tax Act, particularly if the payment is considered a technical service and exceeds the annual threshold. The rate for TDS on technical services is 2% effective from April 1, 2020, with no TDS applicable on the GST component.

TDS @ 10% under section 194J of the Income Tax Act, if payment exceeds ₹30,000 per annum Note no TDS on GST component.(Assuming its for technical Service if you are given access rights)
but you need to elaborate more on what account such annual subscripttion fees is paid.
1000s of unique no. will be allotted , which we will use for our medicines


and thank you for reply
Deduct TDS u/s 194J @ 10%
Ok thanku so much but just last question whether tds applicable due to falling under technical service as per 94J.?
Yes applicable
But on technical service , isn't it 2%
Yes its 2% w.e.f. 01.04.2020

whether tds to be deducted against payment made to GS1 for bar code subscriptttion fee?
 

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register