Section 194J TDS on fee for professional fee

Section 194J TDS on fee for professional fee 

Professional fee mean service rendered by a person in the cousre of arrying on legal,medical,architectual or enginnersing profession or profession of accountancy or techinical consultancy or intereior decoration or advertising or any other profession notified under section 44 AA .

Technical services fee for technical services mean any consideration ( including any lump sum consideration ) for the rendering of any managerial,technical or consultancy services but does not inculding consideration for any construction, asssembly, mining or like project undertaken by the recipient or consideration which would be income of the recipient chargeable under the head salaries.

Royalty  mean consideration 9 including  any lump sum consideration but excluding any consideration which would be the income of the receipt chargeable under the head capital gains

Rate of TDS deductionas per  TDS rate

If  the payee is running a business of call centre                                                                          2%

If case fee for technical or royalty paid other than cinematographic                                2%

If professional  royalty paid                                                                                                                       10%

Other proessional fee                                                                                                                                     10%

When TDS required to decudted

If payment exceed Rs. 30,000 in case of royalty payment

If Payment exceed Rs. 30,000 in case  of Technical fee payment or proessional fee

Deducted TDs amount should be deposited to Central Government Account on or before 7th days of next month through challan no 281  online payment

 

 

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