Please explain TDS on section 194J
List of Professional Services &Technical Services along with Explanation, since the TDS new rate have changed from this year
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TDS u/s 194J
Replies (6)
Quick Summary
As per amended rates its 7.5%.
on professional services like fee payable to auditors etc
on professional services like fee payable to auditors etc
The new rate is applicable from 14th may 2020 to 31st march 2021.
Professional Services are defined under Section 194J includes
Medical
Legal
Engineering
Architectural profession
Accountancy
Technical consultancy, or
Interior decoration
Medical
Legal
Engineering
Architectural profession
Accountancy
Technical consultancy, or
Interior decoration
Could u please share relevant income tax provision as defined under section?
You can read section 194J from following link
https://www.incometaxindia.gov.in/_layouts/15/dit/mobile/viewer.aspx?path=https://www.incometaxindia.gov.in/acts/income-tax%20act,%201961/2020/102120000000075715.htm&k=
https://www.incometaxindia.gov.in/_layouts/15/dit/mobile/viewer.aspx?path=https://www.incometaxindia.gov.in/acts/income-tax%20act,%201961/2020/102120000000075715.htm&k=
Every person, except an individual or a HUF, making payment to a resident for notified services is covered under section 194J of the Income Tax Act. ... In short, in case of an individual or a HUF, if they are liable to get their accounts audited, they are required to deduct TDS as per provisions of section 194J.Apr
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