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Professional fees threshold limit

Webb4 jan. 2024 · Professional Fees. 30000. 10-7.5-194J. Technical Fees (w.e.f. 01.04.2024) 30000. 2-1.5-194J. Payment to call centre operator (w.e.f. 01.06.2024) 30000. 2-1.5-194J. Director's fees-10-7.5-194K. Payment of any income in respect of (a) units of a mutual fund as per section 10(23D); or (b) the units from the administrator; or (c) units from ... Webb3 mars 2024 · As per Budget 2024 proposal, in case the payer is an Individual or HUF, having turnover from Business less than or equal to Rs 1 crore or having turnover from Profession less than or equal to Rs 50 lakh or having income under any head other than the head 'Profits and gains of business or profession and the value of consideration …

TDS Section 194J (194JA/194JB) of Income Tax Act

Webb8 nov. 2024 · NRIs and directorship in Indian firms. 5 min read . Updated: 09 Nov 2024, 01:09 AM IST Vikas Vasal. iStockphoto (iStockphoto) There are no restrictions for appointing foreign/NRI director, subject ... WebbUnder RR 11-18 amending Section 2.57.2 of RR 2-98, as amended, the following are the withholding tax rates on professional fees, promotional, talent fees, or for any other form of remuneration: Professional fees to individuals: 5% if current year gross income does not exceed P3M, otherwise, 10%, if exceeding. atk florida gang https://shopbamboopanda.com

GST for professional - Taxfull

Webb30 maj 2024 · As per the GST Regime, businesses or business owners whose turnover exceeds more than Rs. 40 lakhs is required to register under GST as a normal taxable person and Rs 10 lakhs, GST Registration Threshold Limits for Services operated in NE and hill states. The process of registration under the GST Regime is called GST registration. Webb26 feb. 2024 · For AY 2024-23 onwards, the threshold limit for Audit for the business is Rs 10 Crores if the 95% of the aggregate cash receipts and cash payments are through digital mode. This means, majority of the businesses do not need a tax audit, unless there is a very specific reason. 1D. PF Registration Threshold Limits. WebbAs per Section 194J, each item or independent payment has a threshold maximum limit of INR 30,000. TDS under this section also applies for the fees or remuneration paid to the company’s director even if the payment is not part of the main salary. In such cases, the INR 30,000 limit does not apply here. atk gun company

Section 194J TDS on Fees for Professional or Technical Services Check …

Category:All About TDS on Professional or Technical Fees (Section 194J)

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Professional fees threshold limit

Professional Fees (What It Is And Examples: All You Need …

Webb27 feb. 2024 · The Threshold Limit is Rs. 5,00,000 for the Applicable for E -Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform. The TDS at the rate of 1% will be applicable on resident Indians and Domestic Companies respectively. Webb23 nov. 2024 · X Limited shall deduct TDS on sitting fees Rs. 10,000 @ 10% u/s 194J as such payment is covered under the ambit of section 194J. It is to be kept in mind that the threshold limit of Rs. 30,000 is not applicable on payments made to the directors under section 194J. Is TDS to be deducted on obtaining legal services?

Professional fees threshold limit

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Webb6 rader · 6 juli 2024 · Threshold limit: Rate of tax : Fees for professional services: Rs. 30,000: 10%: Fees for ... WebbThreshold Limit for Deducting Tax Under Section 194J If the payment is more than Rs. 30,000 during the year, the tax must be deducted. However, there is no limit for payments made to the director. No matter how small the amount, the tax must be deducted. Who is Liable to Deduct Tax Under Section 194J?

Webbinterest, commission, brokerage, professional fees, royalty, etc. In this part, you can gain knowledge on three major payments covered under the TDS mechanism ... 2024 with effect from 01-04-2024. The threshold limit has now been specified in the provision itself, previously the threshold limit was specified in reference to clause (a) and ... Webb6 apr. 2024 · In 2024/23 James has adjusted income of £250,000 and threshold income of £210,000. His annual allowance for this year will therefore be reduced by £5,000 (£10,000/2) to £35,000. For tax years 2016/17 to 2024/20, the AI limit was £150,000, and the TI limit was £110,000.

WebbTax Deducted at Source (TDS) 3.7 (12 ratings) 53 students $14.99 $84.99 Finance & Accounting Taxes Tax Preparation Preview this course Tax Deducted at Source (TDS) Learn & apply concepts of TDS as per Income Tax India rules. Prepare for CA, CFA exams. Become a Tax Advisor/Consultant. 3.7 (12 ratings) 53 students Created by Uplatz Training

WebbWhile payment of sitting fees, fees for attending meetings etc paid to any director (whether whole time director/managing director or any other director) is considered as payment of professional fees under section 194J. TDS is required to be deducted at the rate of 10% and no threshold limit of rs. 30,000 applies to this.

WebbBudget -Threshold / Target and Stretch production limits / Costing / and Monitoring. Fixed cost and variable cost budgeting, Monitoring. Data analysis and decision making support. Ergonomics, Motion study, Work-study, Time study in the activities of the rolling mill for down time reduction . Rolling mill, Furnace general operations atk hardwareWebb10 sep. 2024 · If the principle used in the circular is to exclude GST from tax, we cannot include GST while arriving at Rs 50 lakhs threshold limit for scope of section 194IA. pipeline jobs kentuckyWebb18 okt. 2024 · Professional fees refer to the fees charged by a person considered to be a “professional” such as a lawyer, accountant, doctor, engineer, financial planner, appraiser, management consultant, or other. For a person to charge professional fees, he or she must be recognized as a professional in a particular field of service. pipeline joining excavator