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Tds on professional fees to nr

tanvi (Student CA Final ) (28 Points)

09 January 2014

Dear All,

What will be TDS rate on payment of Professional fees to US based Institution...?? one of our client has deducted TDS u/s194J. is it right..??? how will i show the deductee entry in TDS software(Spectrum).

Thanks

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6 Replies

Jeetendra Goyal (Student CA Final ) (175 Points)
Replied 09 January 2014

tds u/s 194 J is right

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tanvi (Student CA Final ) (28 Points)
Replied 09 January 2014

But sir Client is U.S. Institution means N.R., does it make any effect?? and why Sec.195 is not applicable??

Jeetendra Goyal (Student CA Final ) (175 Points)
Replied 09 January 2014

sry..... sec 195 is applicable here...... if ur client is company then tds rate education cess of 3% and surcharge of 2% ( if payment made dring the fy exceeds 1 cr)....... here tds will be deducted at the rate on income tax chargable to payee for that transaction.....