Tds on profession

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1 Points Posted on 15 February 2020
percentage yes
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On 15 February 2020 at 18:13 Report
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This discussion clarifies the Tax Deducted at Source (TDS) rates applicable to professional services in the UK, as per Budget 2020. Technical services incur a 2% TDS, while other professional services are subject to a 10% rate. These regulations are governed by Section 194J of the Income Tax Act, 1961, specifying when TDS must be deducted on payments to residents.

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17269 Points Posted on 15 February 2020
As per Budget 2020, it will be 2% on Technical Services and 10% on other professional services
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On 15 February 2020 at 19:26
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Accountant
4533 Points Posted on 09 January 2021
According to the rules and regulations of Section 194J of the Income Tax Act, 1961, a person must deduct their Tax Deducted at Source (TDS) only at the rate of 10% when certain payments are made to a certain resident
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On 09 January 2021 at 20:54

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