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  1. Courses
  2. Free TDS TCS Certification Course

Transcript

SECTION DESCRIPTION CUTOFF RATES 194J Professional Service/Technical/Royalty/ Non Compete fees 30000 p.a SERVICES COVERED EXAMPLES Rate PROFESSIONAL CA/CS/CMA /CONSULATANCY ETC 10% TECHNICAL TECHNICAL WORK/IT RELATED SERVICES 2% ROYALTY FEES FOR USING PATENT,COPYRIGHT/TRADEMARK 10% NON COMPETE FEES FEES PAID TO COMPETITOR TO STOP SIMILAR BUSINESS 10% SERVICE OF CALL CENTER PRIVATE CALL CENTER CALLING ON BEHALF OF COMPANY 2% 2% for Technical/ Calll Centers 10% for Professionals TDS on Professional/Other than Professional is Deducted if Amount paid is More than 30000 per annum Amount Paid 1200 pm. Agreement Starts from 1 Apr Annual Rent till 31 March = 1200*12 = 14400 Amount Paid 2500 pm. Agreement Starts from 1 Apr Annual Rent till 31 March = 2500*12 = 30000 TDS to be deducted as More than 30000 No TDS as upto 30000 No TDS Less than 30000 Equal to 30000 No TDS 10% for Professional 2% for Other than Professional SECTION SECTION DESCRIPTION CUTOFF RATES 194J Professional Service/Technical/Royalty/ Non Compete fees 30000 p.a 10% for Professional 2% for Other than Professional Amount Paid 3000 pm. Agreement Starts from 1 Apr Annual Rent till 31 March =3000*12 =36000 Amount Paid 12000 pm. Agreement Starts from 1 Dec Annual Rent till 31 March = 12000*4 = 48000 TDS to be deducted as More than 30000 No TDS as upto 30000 TDS to be deducted More than 30000 SECTION DESCRIPTION CUTOFF RATES 194J Professional Service/Technical/Royalty/ Non Compete fees 30000 p.a 10% for Professional 2% for Other than Professional Amount Paid 3000 pm. Agreement Starts from 1 Apr Annual Rent till 31 March =3000*12 =36000 Amount Paid 12000 pm. Agreement Starts from 1 Dec Annual Rent till 31 March = 12000*4 = 48000 TDS to be deducted as More than 30000 No TDS as upto 30000 TDS to be deducted More than 30000 More than30000 TDS to be deducted 10% for Professional 2% for Other than Professional SECTION SECTION DESCRIPTION CUTOFF RATES 194J Professional Service/Technical/Royalty/ Non Compete fees 30000 p.a What is Rate of TDS in Case of Audit fees/Bills of professionals Technical service providers Consultancies Employees on contract (which are white collared covered) Call Center Business 10% 2% 10% 10% 2% 10% for Professional 2% for Other than Professional SECTION DESCRIPTION CUTOFF RATES 194J Professional Service/Technical/Royalty/ Non Compete fees 30000 p.a 1 Bill from CA for Audit fees Rs 10000 per quarter Audit fees A/C Dr To C.A To TDS 194J Non Co 2.Bill from CA Professional Charges Rs 15000 per annum + Rs 2000 pm for Certificate Issue Charges Professional Charges A/C Dr To C.A To TDS 194J Non Co Certificate Issue Charges A/C Dr To C.A To TDS 194J Non Co 10000 9000 1000 15000 13500 1500 2000 1800 200 10% for Professional 2% for Other than Professional SECTION DESCRIPTION CUTOFF RATES 194J Professional Service/Technical/Royalty/ Non Compete fees 30000 p.a  Annual Amt =10000*4=40000. It is more than 30000, So TDS is Deducted  Annual Amt =15000+2000*12=39000. It is more than 30000, So TDS is Deducted

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.