18 February 2011
You may get this information in the Income Tax Act itself.
Go to Section 194J(1) . The modifications/amendments made in the act can be found by referring the number prefixed on the amended term, at the bottom of page.
18 February 2011
Enhancement of the rate of TDS under section 194J of the Income-tax Act Under the earlier provisions of sub-section (1) of section 194J, a specified person is required to deduct an amount equal to five per cent. of any sum payable to a resident by way of fees for professional services or fees for technical services.
The amendment done to specify a higher rate of ten percent. for TDS under section 194J. The increased rate for deduction of tax at source shall be applicable to payment of any sum by way of fees for professional services or fees for technical services or royalty or any sum referred to in clause (va) of section 28. This amendment had taken effect from 1st June, 2007. [Clause 48]
21 February 2011
Dear sir I am thankful for the help pls note that I have gone through the Act before writting mail to you but every where I found rates are effective from 1-Jun-2007 but you you I want to know from you when this rates have been approved and approval is intimated to public.
CAclubindia
