2024 Tds section for amc

Tds section for amc

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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. WebJun 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 …

What is Tax Deducted at Source - Groww

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 … 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 … brian berlectic

TDS on AMC of medical equipments by Hospital- Section …

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 ... 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 WebDec 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/-, … couples massage south edmonton

Updated TDS Rate Chart for FY 2024-23/AY 2024-24 - Razorpay Blog

TDS to no longer carry AMC Network HelloTDS Blog

WebFinance - TDS - TDS's start experience including trending news, entertainment, sports, videos, personalized content, web searches, and much more. 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. couples massage spa new yorkWebApr 13, 2024 · Circular No. 04 of 2024 issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, clarifies the procedure for deducting tax at source (TDS) under section 192 read with sub-section (1A) of section 115BAC of the Income-tax Act, 1961. The circular directs deductors, being employers, to seek information from each ... couples massages in houston texas

"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 … " - Tds section for amc

Tds section for amc

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

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). 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 …

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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 meaning of FTS. A ‘technical service’ means a service requiring expertise in technology or scientific knowledge or experience. 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 …

WebApr 11, 2024 · 31st October 2024. The income tax return for the assessment year 2024-24 must be filed by. all assesses, except for (a) corporate assesses, (b) non-corporate assesses whose books of account require auditing, (c) partners of audited firms, or their spouses if Section 5A applies. 15th December 2024. 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 …

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 …

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 …

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 … couples massage spa williamsburg vaWebBackground: 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 ... brian berletic land destroyerWebJun 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 ... couples massage spa in atlanta gaWebJul 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. brian berletic aka tony cartalucciWebMay 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’ … couples massage tofinoWebApr 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 … couples massage watertown nyWebFeb 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 … couples massage weekend getaway near me