Posts / Replies. If you have paid Subscription for Professional Service: Rate will be 10% (For Financial Year 2020–21: Rate is 7.5%) If you have paid Subscription for AMC or Contractual Services: Rate will be 2% in case of companies & 1% for individuals (For Financial Year 2020–21: Rate is 1.5% & 0.75% respectively) etc. Renewal application form *There will be no refund of membership fee and no transfer of membership will be accepted. #AskTDS: “I am about to renew my tenant’s tenancy, ... About TDS. (iv) thirty thousand rupees, in the case of sum referred to in clause (d) : Provided further that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed 56[one crore rupees in case of business or fifty lakh rupees in case of profession] during the financial year immediately preceding the financial year in which such sum by way of fees for professional services or technical services is credited or paid, shall be liable to deduct income-tax under this section : Provided also that no individual or a Hindu undivided family referred to in the second proviso shall be liable to deduct income-tax on the sum by way of fees for professional services in case such sum is credited or paid exclusively for personal purposes of such individual or any member of Hindu undivided family: Provided also that the provisions of this section shall have effect, as if for the words “ten per cent”, the words “two per cent” had been substituted in the case of a payee, engaged only in the business of operation of call centre. The online information syatem of tax department is now ROBUST and the fear of loosing revenue , which primarily was higher tds rate prescribed by law , is now NOT ACTUALLY REQUIRED. Go to Gateway of Tally > F12: Configure > Licensing > Renew TSS . As GS1 India, we don't store any Credit Card/Debit Card/Internet Banking information. watch_later 3 years, 2 months ago, We have purchased a 1year subscription for a CRM Software. Membership is valid for one year and is renewable upon expiration every year thereafter. Respective Zone 15 Renewal of trade license by City Corporation or Paurashava [52K] City Corporation or Paurashava. The software can be accessed by clients over LAN or Terminal Services (like Remote Desktop, Thin Client etc.) (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of—, (ba) any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company, or. Cash deposit transaction limit for sb and current bank account, Whether 'tips' received fall within the meaning of "Salaries" to attract TDS under section 192. Film Artists/Actors, Cameraman, Director, Singer, Story-writer etc. In order to submit a comment to this post, please write this code along with your comment: 27e00784d9519b444bb79f76eb5ea144. Finance Act : TDS on Royalties where such royalty is in the nature of consideration for sale, distribution or exhibition of a cinematographic film will also be subjected to TDS @ 2%. Computer Type. Take a look below at our comprehensive packages, curated for an escape that’s easy to plan yet impossible to forget. However, section 195 requires deduction of tax at source from payment made to non-resident if such payment is chargeable to tax. Are you facing any problems to related with law? 3216260903 and attach the payment receipt below. kalyan says: ... weather tds is to be deducted on renewal of software fees. > Fees for professional services means services rendered by person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or advertising or film artist. Available to US citizens, nationals and LPRs. Content of this website is published and managed by Bureau of Indian Standards, Ministry of Consumer Affairs, Food & Public Distribution, Government of India Membership Renewal Fees: Adult membership RM60; Junior membership RM30. Example: Firm XYZ paid ₹ 25,000/- as fees for technical services and ₹ 20,000/- as professional charges to Mr. Red. Tk. > Reimbursement of expense– TDS not liable to be deducted on pure reimbursements when separate bill is raised. Related Articles. As specified under the IT act, it has to be deducted from income either on payment basis or at the time of credit or payment which ever is earlier. Winman CA-ERP Server Edition license will be installed on a server computer.. CA-ERP Desktop edition software will be installed on every client computer (Licensed computer).. No. Check your GST numbers in bulk. if yaes then under which section and at which rate. Every person, who is responsible for paying to a resident any sum by way of – 1. As per notification no 21/2012.TDS is not applicable only when purchased software is subsequent transfer/sale. 13.06.2012. Explanation.—For the purposes of this section,—. ... Cards under the same account must be issued together at the time of application or upon renewal. Send the completed TDS, Cover Letter, and fee to the WWARA mailing address, or electronically to the WWARA Secretary. Also, the TDS return details must include information on the total TDS deducted, payment to the government on that particular quarter etc. 09 March 2012 Hello Friends, i wanna ask that whether TDS wil be applicable on renewal membership fees ?please give proper answer with explanation in dis … When TDS is deductible. From 1st June 2019 landlords in England are limited to 5 weeks’ (rent equivalent under £50,000 per annum) deposit for new and renewed tenancies (or 6 weeks if the annual rent is £50,000 or more). Bank Transfer to Our Account: The Dance Society Of Malaysia, Public Bank Bhd A/C No. when the invoice is raised by the developer, though he will raise the invoice for the total amount but the software developer or the software service provider will receive the amount minus TDS. Twitter - @knowyourgst, For product information - Whatsapp for quick response In this case, the professional fees are paid to non-resident and hence, tax is not to be deducted under section 194J. E. Email intimation for renewal done A system-generated email for the facility renewed along with the payment details and the validity period will be sent on registered email ID of the entity once the online renewal request is authorized by NSDL e-Gov. Zone-4, Dhaka Zone-2, Ctg. 1 crore, Section 37 General Deductions allowed for Business & Profession, New Process to Submit Response for Income Tax Refund, Section 35AD Deduction towards expenditure on specified business, Section 35ABB – Deduction towards expenditure incurred for obtaining a licence for operating telecommunication services, ‘Address of delivery’ & ‘Address on record’ under GST, Bombay HC stayed provisional attachment of bank accounts noting assessee’s cooperation, Gujarat HC grants regular bail to assessee arrested for offences punishable under Section 132(1)(a) of CGST Act, Join Detailed Online Certification Courses on GST. Is TDS applicable on Membership Fees & Subscription Fees. XYZ Co., a partnership firm took consultancy from an engineer located at Sydney. 30,000: 10%: 7.5%: Non-compete fees: Rs. Any person, not being an individual or a HUF, who is responsible for paying to a resident any sum by way of:-, Professions are notified under section 44AA, 4. For other queries - use Q&A platform, Prohibition of Benami Property Transactions Act, Prevention of Money Laundering Act (PMLA), 2002, Employees Provident Funds And Miscellaneous Provisions Act, 1952, Cash deposit transaction -sft -004 for non I.t. TDS on RESIDENTS – All the controversies on rate of TDS can be resolved if a universal rate of TDS say 2% is specified for all sections ( presently 1,2,5,10, 20 ). In case the initial application has been submitted between April and September, for the purpose of renewal it will be assumed that the intermediary was registered for the whole of that financial year. Should the firm deduct Tax at source under section 194J from the fees paid to the engineer? 1) Who is responsible to deduct tax u/s 194J? If a person X makes payment to a person Y, the payer X has to deduct TDS on certain occasions. Hence, the firm may require to deduct tax at source under section 195. Telegram - @knowyourgst Our team of dedicated romance experts will be there every step of the way. Reply. Our New Branch open Shortly. For such purpose provisions of tax treaty was to be considered. If approved by the officer, a certificate stating a deduction in the TDS is issued to the assessee. shashi says: October 29, 2013 at 4:23 pm. Whatsapp - 73386 33003 (a) “professional services” means services rendered by a person in the course of carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or advertising or such other profession as is notified by the Board for the purposes of section 44AA or of this section; (b) “fees for technical services” shall have the same meaning as in Explanation 2 to clause (vii) of sub-section (1) of section 9; (ba) “royalty” shall have the same meaning as in Explanation 2 to clause (vi) of sub-section (1) of section 9; (c) where any sum referred to in sub-section (1) is credited to any account, whether called “suspense account” or by any other name, in the books of account of the person liable to pay such sum, such crediting shall be deemed to be credit of such sum to the account of the payee and the provisions of this section shall apply accordingly. Whatsapp-8448440601 to open Franchisee Maintained by V2Technosys.com, Taxguru Consultancy & Online Publication LLP, 509, Swapna Siddhi, Akurli Road, Near Railway Station, Kandivali (East), Section 194J TDS on Professional or Technical Fees, Presumptive Taxation Scheme under Section 44AE, Combined Study of Section 44AB with Section 44AD, Penalty for failure to get accounts Audited- Section 271B, Presumptive Taxation Scheme under Section 44ADA, Section 44AA, 44AB & 44AD when turnover is up to Rs. However, an individual or a HUF is liable to deduct TDS under section 194J, if total sales, gross receipts or turnover exceed one crore rupees in case of business or fifty lakh rupees in case of profession during the financial year immediately preceding the financial year in which such sum for professional or technical services is credited or paid. Any sum referred to in clause (va) of section 28, “any sum, whether received or receivable, in cash or kind, under an agreement for—, (a) not carrying out any activity in relation to any business; or, (b) not sharing any know-how, patent, copyright, trade-mark, license, franchise or any other business or commercial right of similar nature or information or technique likely to assist in the manufacture or processing of goods or provision for services. Such ₹30,000 is the maximum limit which is applicable to each item or payment independently. – Finance Risk Manager (FRM) Is The Course For You! The IRDAI has issued a direction to all the stand-alone health insurers and general insurance companies regarding premium payment for renewal of Health Insurance policies. Similarly, tax deduction at source is also applied to both life insurance premium payments and insurance commissions. All India Protest Call against GST/Income Tax Issues by WMTPA, Taxpayers! Dhaka district Chittagong district Other dist. All Rights Reserved. Here firm XYZ is not liable to deduct TDS from payments made to Mr. Red as ₹ 30,000/- limit is separate for each item, namely fees for technical services and professional charges. These licence are valid for 1 yr only. My Query is should we deduct TDS while making payment to the Vendor ?. Income tax under section 194C is deducted (TDS) when there is any contract for provision of service and 194J which is for technical services. *Please delete as appropriate Cheque (Made payable to Renewal is subject to the approval and is effective on the first day of the membership-commencing month. Top Members. In these cases, the ₹30,000 limit is not applicable. 1. 30,000: 10%: 7.5% The vendor has raised an invoice mentioning "Annual Subscription License Fee for 4 users, start date... and end date..... , SAC: 997331, also charged IGST @18%, My Query is should we deduct TDS while making payment to the Vendor ?. As part of the reopening, TDS can now process renewal. ... TDS on renewal of Software. 30,000: 2% (for FTS- 10% upto FY 19-20) 1.5%: Remuneration or fees to Director (other than 192) NIL: 10%: 7.5%: Royalty: Rs. Tenancy Deposit Scheme (TDS) is a Government-approved scheme for the protection of tenancy deposits; TDS offers both Insured and Custodial protection and also provides fair adjudication for disputes that arise over the tenancy deposits that we protect. 3) When to Deduct TDS under Section 194J? Select the Payment method from the List of Payment Methods . 2. The tenancy renewal fee is usually only chargeable if the tenancy is “renewed” i.e. Extract of Section 194J of Income Tax Act, 1961, 194J. To be more specific this is still debatable, CBDT has clarified that there is no need to deduct tax on purchase of software and similar order was passed by Madras high court. Are You Looking At A Career As A Finance Adviser? Enter the billing details in the TSS Renewal screen. 500/- for Dhaka (North In case of sale or purchase of software both these conditions are not meet and hence there is no liability to deduct tax. • On-site wedding coordinator service • Ceremony location • Commemorative certificate (non-legal) Issue certificate of TDS on or before the specified date (i.e. Check TDS Rates Chart for FY 2020-21 & AY 2021-22. Renew TSS from Tally.ERP 9 To renew TSS from Tally.ERP 9 1. 3. Deposit Cap and the Tenant Fee Ban – ENGLAND ONLY. The TDS Objective Information Operational Notes Honorary Advisors. Find out TDS Rates on FD, Immovable Property, EPF, services, contracts & for salaried individuals, self-employed & senior citizens. Example of letting or renewal commission: If we let a property or renew a tenancy on your behalf as above for a period of 12 months at a rental of £1,500pcm and at a commission of 13.2% then you should expect to pay to us the sum of £2,376 in advance at the start of the initial or renewal period (12 x £1,500 x 13.2% = £2,376). Section 194DA as per the Income Tax Act, 1961 contains the guidelines regarding the taxation on Insurance commissions and fees. Basheer PM Old Query - New Comments are closed. When the developer or the service provider sells this product and not just provides a license to it, it is then the called as ‘professional charges’ TDS is deducted at the stage of making payment i.e. Join the largest Taxation Q&A platform on internet and ASK YOUR OWN question. Renew TSS online . of Users. Kapashera Delhi,Dwarka More Delhi,Shahadra Delhi, Rajapuri Delhi,Sadh Nagar Delhi, Haldwani,Sonipat , Our website every sunday 2 A.M. to 10 A.M under mentenence. Copyright © TaxGuru. 16 Mar 2020 - Travel Restrictions Due to Coronavirus (Covid-19 Update) The list of current travel restrictions to various countries as of December 28nd, 2020. new contracts are signed, and the tenant is tied in for a new fixed term. Please advice. It depends on the Nature of Expenses. Your email address will not be published. i think on maintenance for one year is 2% Tds renewal of Licnses is 10% tds. This payment is other than the payment of salary (Non-salary), and the payer has to file TDS return in FORM 26Q. Use the Technical Data Sheet (TDS) to apply. Server Registration. Showing Replies 1 to 1 of 1 Records. > TDS u/s.194J not to be deducted on subsequent sale of software without modification– Notification No.21/2012 dtd. Any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company. HITESH KHONA. Furnish GSTR-1 in time, or pay late fees, Due dates for filing of Form GSTR-3B for December, 2020, Webinar on Career Growth in GST related Litigation Management, Goods and Service Tax (GST) Registration & Requirements, Uttarakhand HC directs CBDT to consider representation on due date extension, Rate of tax (w.e.f 14.05.2020 to 31.03.2021). For non-payment of TDS: Under Section 201A of the Income Tax Act, interest will also be levied along with the penalty in case TDS is not paid within the due date. form 16/16A). HITESH KHONA (Querist) Follow. The vendor has raised an invoice mentioning "Annual Subscription License Fee for 4 users, start date... and end date..... , SAC: 997331, also charged IGST @18%. Fees for technical services and payment to call centers: Rs. Annual fee is HK$1,288 for an Associate Membership and HK$966 for an Associate Spouse Membership. Certificates are good for 5 year periods and may be renewed.Application is no grarantee a frequency will be coordinated.Non refundable.Does not apply to Shared Non … ← Previous : In case a part of the tax amount or the whole of it is not deducted at source, interest will be charged at 1.5% every month starting from the date on which the tax was deductible to the date on which the tax is … TDS under this section is also applicable on commission or remuneration or fees given to a company’s director. Join our newsletter to stay updated on Taxation and Corporate Law. But as you mentioned the contract is for annual subscription this amount to contract as well as technical services and TDS is liable to be deducted at 1% or 2% depending on status of supplier. by air ( payment of embarkation fee, travel tax, F.S insurance, security tax, airport tax shall not be included in the value). According to Section 197, the person receiving payment can apply for a reduction of rate in TDS, through filling in the Form 13 and sending it to the assessing officer. Online Transaction Charges for Credit Card/Debit Card/Internet Banking, shall be borne by you and would be collected directly by the credit card company/Bank/Payment Gateway etc. Hi, We have purchased 500 Software Licence for our own use. Check unlimited GST numbers with very cheap packages. If it is only a purchase of software like tally then there is no need to deduct TDS. Any person not being an individual or a HUF who is responsible for paying to a resident by way of fees for professional or technical services royalty and any sum referred to clause (va) of section 28 is liable to deduct tax at source in case aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the … by different user at a time … Click here for further information related to Online Transaction Charges. The US Passport Service is reopening in stages because of the restrictions caused by COVID-19. i am right (please reply me as soon as possible) Reply. 1 Dated: 14-6-2019 By:- Ganeshan Kalyani: TDS is not applicable. (d) any sum referred to in clause (va) of section 28. shall, at the time of credit of such sum to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to 55[two per cent of such sum in case of fees for technical services (not being a professional services) or royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films and ten per cent of such sum in other cases,] as income-tax on income comprised therein : Provided that no deduction shall be made under this section—, (A) from any sums as aforesaid credited or paid before the 1st day of July, 1995; or, (B) where the amount of such sum or, as the case may be, the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to, the payee, does not exceed—, (i) thirty thousand rupees, in the case of fees for professional services referred to in clause (a), or, (ii) thirty thousand rupees, in the case of fees for technical services referred to in clause (b), or, (iii) thirty thousand rupees, in the case of royalty referred to in clause (c), or.