27 December 2013
DEAR MEMBER(S) PLEASE SEND THE REPLY
AN INDIVIDUAL PROVIDE THE SERVICE OF ARTICAL TO NEWS PAPERS. DOES IT CREATE TDS LIBILITY IF YES .UNDER WHICH SECTION TDS IS TO BE DEDUCTED.& WHAT ARE THE LIMIT FOR THE SAME
27 December 2013
I understood that individual is contributing articles to news papers . . As he is not your employer you should deduct TDS if total payments in year exceeds 30000.applicable tds u/s 194J.
27 December 2013
any amount paid to trainee as a stipend will not taxable as income in the hands of receipient. if it is as per sec.10(16) . .
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Suppose i am getting stipend of 8000 rupees but as per icai it is fixed at 1500 difference per month is 6500 which will exceeds 30000 in a year,..even in such case it is not chargeable to tax and my principal not required to deduct tax from my stipend. . . because total amount paid is stipend nature and qualifies for Sec.10(16) exemption