SECTION 194J(b)– Professional Services
Payments that are being covered u/s 194J(b
- Professional services
- Royalty etc.
Tax Deduction rate
- Tax Deduction rate of 194J(b) is 10%
- In case of payee face to furnish PAN ,he will be liable to pay TDS at the rate of 20%.
Threshold Exemption Limit
- In case of payment does not exceed the directed Threshold exemption limits, TDS will not be deductible.
- TDS is required to be deducted if the amount of payment in a year exceeds Rs. 30,000. However, Threshold exemption limit is not available only in the case of Fees / Commission / Remuneration paid to director of the company, other than Salary.