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TDS deduction for one time expert advisory
1 week ago
I had a telephone interaction as a marketing expert with a client. The platform has charged TDS of 10% on the fees payable to me, which is in excess of 30,000. Is this applicable to me? What is the actual rate of TDS?
A.Dear Client,
Under Section 194J of the Income Tax Act, any entity except individuals or Hindu Undivided Families, paying a resident for professional or technical services, must deduct TDS at a rate of 10% from the payment. The threshold for TDS under this section is Rs. 30,000 per financial year, calculated separately for various categories like professional fees, service fees, non-competence fees, and royalties.
Under Section 194J of the Income Tax Act, any entity except individuals or Hindu Undivided Families, paying a resident for professional or technical services, must deduct TDS at a rate of 10% from the payment. The threshold for TDS under this section is Rs. 30,000 per financial year, calculated separately for various categories like professional fees, service fees, non-competence fees, and royalties.
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A.Dear Client,
According to Section 194J of the Income Tax Act, any person (other than an individual or a Hindu Undivided Family) making payment to a resident for professional or technical services is required to deduct TDS at the rate of 10% of the amount paid or credited to the recipient. The threshold limit for TDS under Sec.194J of the Act is Rs.30,000/- in a financial year and is calculated individually for categories across TDS on professional fees, service fees, non-competence fees and royalties. Reach out to a CA or a Tax Consultant for more clarifications on the subject and steps.
According to Section 194J of the Income Tax Act, any person (other than an individual or a Hindu Undivided Family) making payment to a resident for professional or technical services is required to deduct TDS at the rate of 10% of the amount paid or credited to the recipient. The threshold limit for TDS under Sec.194J of the Act is Rs.30,000/- in a financial year and is calculated individually for categories across TDS on professional fees, service fees, non-competence fees and royalties. Reach out to a CA or a Tax Consultant for more clarifications on the subject and steps.
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