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