Sec194J
This query is : Resolved
27 February 2009
Dear sir,
Payment made towards lawyers fees whether TDS is applicable under sec 194J . Please clarify in case what is the limit of exemption.
Please provide me the latest TDS rates chart applicable for the AY 2008-09.
with regards,
R. Gurucharan.
Payment made towards lawyers fees whether TDS is applicable under sec 194J . Please clarify in case what is the limit of exemption.
Please provide me the latest TDS rates chart applicable for the AY 2008-09.
with regards,
R. Gurucharan.
27 February 2009
Hi,
Under Explanation (ii) to Section 194 J, the term 'Professional services' is defined.It includes Legal Profession also.Hence, lawyer fees are liable to Tax deduction at Source in excess of payemnts Rs.20,000/- either credited or paid to the Lawyer, in a single year.
Under Explanation (ii) to Section 194 J, the term 'Professional services' is defined.It includes Legal Profession also.Hence, lawyer fees are liable to Tax deduction at Source in excess of payemnts Rs.20,000/- either credited or paid to the Lawyer, in a single year.
27 February 2009
Continuing Mr.Vinayak,Tax deduction is to be made at the time of credit or payment whichever is earlier.
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