11 March 2014
Is income received u/s 194J is taxable under Income Tax laws? 194J specifies 'Fees for professional or technical services'. Total income received u/s 194J during FY 2012-13 is Rs. 70600/- only. If taxable, how much Income Tax should have been deducted? Thank you.
11 March 2014
Under 194J tds will be deducted at 10% . So if total fee is 70600 tds to be deductable @10% which is 7060 balance can be paid to professional