2024 Tds section for amc

Tds section for amc

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August undefined, 2024

WebMay 27, 2024 · The facts regarding the issue under consideration is that the assessee incurred expenditure of Rs.1,75,56,680/- under the head ‘Computer Repairs & Maintenance’ … WebApr 11, 2024 · All the income earned through winnings from lottery, crossword puzzle, gambling, betting, horse racing and any similar nature were taxed under section 194B of the Income Tax Act, where the payer of such winnings would require to deduct TDS at 30% if such winnings exceed Rs. 10,000/-. Budget 2024 proposed a new provision to tax income …

TDS on AMC - Income Tax - CAclubindia

WebFeb 11, 2024 · The threshold limit for deduction of TDS on payment made towards Maintenance Charges is: Payment should not exceed 30,000 in case of a single transaction and; Aggregate payments made during the relevant FY should not exceed Rs. 1,00,000. WebAnswer (1 of 2): Greeting, Investors who are Resident Indians can redeem the mutual fund funds without paying any TDS. They are required to show the capital gains as income and … fanfiction tataranni

TDS on maintenance charges – Section 194C of Income Tax Act

WebMay 7, 2016 · In case you are taking any service which is covered under explanation II to section 9 (1) (vii), which mainly covered legal, professional & technical services, then you are liable to deduct tax under section 194J @ 10%. However, in case it is not covered then Tax will be deducted under section 194C @ 1/2% depending upon the case. WebFeb 7, 2024 · Updated TDS Rate Chart for FY 2024-23/AY 2024-24. February 7, 2024 5 Mins Read. TDS (Tax Deducted at Source) is a type of tax introduced by the Income Tax Department of India to minimise tax evasion. It is applicable on various payments ranging from contractor payments, salary, commission and more. The TDS rates are Predecided … WebFeb 11, 2024 · Threshold Limit for deduction of TDS on Repair and Maintenance under Section 194C of the Income Tax Act, 1961 The threshold for deduction of TDS on Repair and Maintenance is currently set at Rs. 30,000 in a single transaction and the aggregate amounts do not exceed Rs. 1,00,000. fanfiction talion

Clarification on TDS Deduction Under New Tax Regime: Circular …

TDS on AMC Charges (Annual Maintenance Charges)

WebSection 194Q:Payment for purchase of goods of the aggregate value exceeding Rs. 50 lakhs Note: TDS is deductible on sum exceeding Rs. 50 lakhs 0.1 Section 194R:Deduction of tax … WebMay 27, 2024 · The ACIT (TDS), however, was of the view that assessee should have deducted tax at source on the entire amount of Rs.1,75,56,680/- @10% under section 194J and he, therefore, vide order sheet entry dated 11/3/2016 required the assessee-company to show cause as to why it may not be treated as an assessee in default for not making TDS … fanfiction tatuWebMay 13, 2024 · The ACIT (TDS), however, was of the view that assessee should have deducted tax at source on the entire amount of Rs. 1,75,56,680 @10% under section 194J and he, therefore, vide order sheet entry dated … fanfiction tai x izzy

"WebJun 5, 2024 · If the dividend on equity mutual funds exceeds INR 5,000, the AMC should deduct TDS at 10% under Section 194K. If the PAN is invalid or not available, TDS would … " - Tds section for amc

Tds section for amc

Tax Deducted At Source (TDS) Under Section 194 C And 194 I …

WebMar 29, 2024 · Only if the payment exceeds the prescribed limit, then TDS provisions will be applicable. For example, as per the provisions of Section 194J, no TDS required to be deducted if payment of professional fees do not exceed Rs, 30,000/-. So, here the threshold limit is Rs. 30,000 and TDS needs to be deducted only if it exceeds 30,000. WebBackground: xxxxxxxxxxxxxxxxxxxx has invited tender for supply, installation, testing and commissioning along with comprehensive AMC of xxxxxxxxxxxxxxx (“DFMD” or “the Equipment”) and Test Kit at various xxxxxxx in India. Amongst various bidders, the tender of xxxxxxxxxxxxxxxx was accepted. As per the work order issued by xxx, the ...

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WebSAC (Services Accounting Code) code 998719 is classified under group 99871 (Maintenance and repair services of fabricated metal products, machinery and equipment) of GST services classification. Group 99871 is classified under heading 9987 (Maintenance, repair and installation (except construction) services). WebApr 10, 2024 · The tenant is responsible for deducting TDS on rent at the rate of 10% on the rent paid to the landlord if the rent paid exceeds Rs. 2,40,000 per annum as per the norms …

WebSep 16, 2024 · During the course of assessment, the Assessing Officer noted that the assessee, Mumbai Metropolitan Regional Development Authority (MMRDA) had made … WebTDS CHART FOR FY 2024-23 (AY 2024-24) aD Normal FY 2024-21 (AY [No Return filed for] 193 194A 1948 sac 1940 19404 1946 1941 19414 19418 1941c 19488 _ income by way of winnings from horse races Payment of accumulated balance of provident fund which is lraxable in the hands of an employee Section Threshold timit Case & 2024-22) & having ...

WebDec 7, 2024 · TDS on AMC Charges (Annual Maintenance Charges) is required to be deducted under Section 194C of Income Tax Act 1961 at the rate of 1% or 2% (as the case … WebApr 29, 2024 · April 29. TDS along with hundreds of other TV operators across the country, are in contract negotiations with AMC Networks. Our contract with AMC expires at 11:59 …

WebMay 26, 2024 · TDS Section 194J of the Income Tax Act 1961 includes provisions regarding the TDS deduction of fees for technical as well as professional services. We prepared this …

WebAug 8, 1995 · Similarly section 194J provides for TDS on payment made to residents towards FTS. Section 194J refers back to Explanation 2 under section 9(1)(vii) for the … fan fiction tagalogWebApr 15, 2024 · The Income Tax Act, 1961, was amended in 2012 to include Section 196D, which deals with the TDS (Tax Deduction at Source) for foreign institutional investors (FIIs) from securities. This provision was introduced to regulate the tax liabilities of FIIs investing in the Indian securities market. In this blog, we will discuss about Section 196D of ... fanfiction teddylonglongWebSep 20, 2024 · 1 comment Exemption from TDS on cash withdrawal under section 194N for making payment to farmers – Central Government specifies the commission agent or trader, operating under Agriculture Produce Market Committee (APMC) – Notification No. 70/2024-Income Tax Dated 20th September, 2024 MINISTRY OF FINANCE (Department of … corky\\u0027s dinerWebJun 14, 2024 · Your Case belongs to Section 194 C TDS to be deduted under some conditions: ( U/S 194C) 1. whether Contract is with Company, individual,HUF, Firm. if … fanfiction taylor hebert bondsWebJun 15, 2024 · Further, TDS provisions have also been introduced regarding such dividend income. The investors may claim the credit of such TDS in their ITRs. 4. Tax Benefits under Section 80C. ... UTI AMC Ltd or UTI Mutual Fund (acting through UTI Trustee Company Pvt. Ltd) accepts no liability and will not be liable for any loss or damage arising directly or ... corky\u0027s dinerWebJul 1, 2015 · Following are the services of AMC where the TDS is deducted: 1) Maintenance of computer and peripherals 2) Networking, LAN connection and web designing 3) Plantation and maintenance of Transformer & Panels in the industry 4) Contracts made annually for the inside Electrical fittings. corky\u0027s dawg house menuWebThe tables below show the various TDS percentage that applies to resident and non-resident payments, as well as the TDS deduction rate on domestic and foreign corporations in India. Any individual receiving income is required to deduct tax at source and remit TDS by the due date. TDS Rates for FY 2024-23 (AY 2024-24) TDS Rate Chart corky\u0027s dawg house brevard nc