WebTDS on Service tax paid on reverse charge paid to advocates. Contents. We have paid legal fees to our advocate amounting to Rs.100000/-. We have deducted TDS under section 194J @ 10% on Rs.100000/-. Our chartered accountant is adamant that TDS is required to be deducted on Service Tax component paid under reverse charge mechanism. WebMar 21, 2024 · A.3. Section 194J breaks in two different rates 2% and 10% for fees for technical services and fees for professional services respectively (w.e.f. 01/04/2024) However, the tax on payments made to operators of call centres shall be deducted at a reduced rate of 2%. Notes: 1.
TDS Rate Chart for FY 2024-21 (AY 2024-22) Ebizfiling
WebApr 21, 2024 · Concept of Tax Deduction at Source. TDS is an abbreviation for Tax Deducted at Source. According to Section 194 Q, the Income Tax Department requires any company or individual to deduct tax at the source if the payment for goods and services exceeds Rs. 50 lakhs, such as rent, consultation, legal fees, royalties, technical … WebApr 15, 2024 · The basic difference between TDS and TCS in GST lies in their applicability, the threshold limits beyond which they are applicable, the rates of deduction and collection, the due date for depositing the tax collected, and so on. TDS Under GST: TDS under GST is applicable when the sale of goods or services exceeds Rs.2.5 Lakhs. fhir hl7 version
TDS Penalty and Late Filing Fees for Tax Deduction at Source
WebFeb 11, 2024 · The threshold limit for deduction of TDS on Consultancy Charges is as follows; For Professional Services – 30,000 ... Rendering of services for procurement of … WebNov 23, 2024 · Is TDS to be deducted on obtaining legal services? Yes, legal profession is covered under section 194J. Therefore, if a payment is made to a resident person … WebMar 8, 2024 · TDS is applicable only if the fee paid exceeds Rs 30,000 in a financial year. In the case of lower amounts, TDS is not applicable. For example, say you pay a fee of Rs … department of justice miami