Payment for Commission or brokerage (Section 194H) Payment of rent (Section 194I) Payment of fees for professional or technical services (Section 194J) Commission to Stockiest, distributors, buyers and sellers of Lottery tickets including remuneration or prize on such tickets (Section 194G) ...
The Government had brought in the concept of TDS, through which persons are required to deduct TDS and deposit the same with the Government. Know more about TDS on fees for professional and technical services here
194IC Payment that are made under Joint Development Agreement (JDA) to Individual/HUF No Limit 10% 10% 194J Fees paid for professional services Rs. 30,000 10% 10% 194J Amount paid for technical services Rs. 30,000 2% 2% 194J Amounts paid as royalty for sale/distribution/exhibition of...
Following payments are covered under section 194J : Fees for technical services including consulting fees Professional fees Director’s fees other than salary payments Non-compete fees Professional payments less than Rs. 30,000 are not liable to TDS, except the director’s fees, where no such lim...
Conclusion: The procedure of timely deducting and depositing the tax and quarterly statements should be followed properly to avoid any of the consequences of default. At last it is not wrong to say that it is one of the good steps of revenue collection and minimizing tax evasion although it ...
Button →‘Detailed’ OR ‘Ledger-wise’:At the account group level, Tally ERP shows the trial balance. Click on the button named ‘Detailed’ or press ‘Alt’+’F1’ to see the details. Alternatively, click on the button ‘Ledger-wise’ or press ‘F5’. ...