Tds section for amc

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August undefined, 2024

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 … WebYes, TDS is applicable for advertisement and will be deduct under section 194C of income tax act for advertisement expenses. What is tds rate on fd? For the FY 2024-21, TDS on fixed deposits (FDs) is 7.5%. What are the TDS rates that are applicable to interest on securities? The TDS rate for interest on securities is 10%. What is a TDS Certificate?

TDS U/s 194C deductible on AMC for repairs & maintenance of …

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 … earthmark consultants in north carolina

TDS on Winnings from Online Gaming (Section 194BA)

WebFinance - TDS - TDS's start experience including trending news, entertainment, sports, videos, personalized content, web searches, and much more. WebDec 15, 2024 · The assessee has deducted TDS under section 194C of the Act in regard to payments on AMC of medical equipments and machines etc. Accordingly, we find no … WebMay 26, 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 … earthmarket

TDS Rates in India - TDS Rate Chart for FY 2024-23 (AY 2024-24)

Interesting case: Annual Maintenance Contract (AMC) - The Tax Talk

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 of Income Tax Act under section 194 – I. The tenant must also remit the TDS amount to the government. If the landlord is a non-resident, the tenant must deduct TDS at the rate ... WebJun 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 ... ctimanger.com/loginWebFeb 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 … ctim application

"WebAS per section 194-C of the IT Act, AMC for Computer/UPS will cover under this section, but you need not deduct TDS unless the single payment exceeds Rs.20,000/- or multiple payment (or the Contract value) during the financial year if exceeds Rs.50,000/- then only TDS @ 2% (+SC+EC) will be deductible. In your case, NO is the answer. " - Tds section for amc

Tds section for amc

AMC Negotiations Welcome to More with TDS

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. WebSection 194C governs the TDS provision applicable to any person making payment to a resident contractor for carrying out work between a resident contractor and ‘specified person’ ( central or state government, local authority, company, etc) When is …

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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 … WebAug 22, 2024 · The following is the limit applicable under section 194C to deduct TDS: The amount paid or credit is a single contract that exceeds Rs 30,000 The amount paid or credit during the financial year altogether exceeds Rs 1,00,000. TDS rate on Payment to Contractors Under Section 194C

WebSep 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 … 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 …

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 ... 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 …

WebMay 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 …

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 … cti manager loginWebJun 11, 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 may be) for payments to residents. Want to know more about TDS on Annual … earth marketWebAug 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 meaning of FTS. A ‘technical service’ means a service requiring expertise in technology or scientific knowledge or experience. ct imaging of the liver cti marketing leon iaWebApr 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 … cti marketing iowaWebJul 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. cti marshalltownWebDec 7, 2024 · In your case, there is no need to deduct TDS, as the single bill amount does not exceed Rs. 30000/-. But during the year if the aggregate AMC bill goes above Rs. 75000/-, … ct imaging of inguinal hernia