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How can I file ITR if TDS is deducted?
You can claim your TDS refund by following the steps mentioned below:
- Step 1: File your income tax returns in the case where your employer has deducted extra amount over your actual tax liability under the head of TDS.
- Step 2: Fill in the required fields with the name of your bank, your bank account number, and IFSC.
How can I claim TDS refund on professional fees?
You need to file a TDS refund claim when the employer has deducted more tax than the actual liability. You can claim the difference amount by filing an income tax return. You will have to provide the bank account number, name of the bank, and Indian Financial System Code (IFSC) details for successful processing.
What is TDS under Section 194J?
Section 194J – TDS on Professional/Technical Fees. According to the rules and regulations of Section 194J of the Income Tax Act, 1961, a person must deduct their Tax Deducted at Source (TDS) only at the rate of 10\% when certain payments are made to a certain resident.
What is Section 194J B?
(ii) Section 194J(B) of the Income Tax Act is related to TDS deduction on any sum paying as fees for Professional Services. Professional Services are defined under Section 194J includes. Medical. Legal. Engineering.
What is TDS under section 194C?
Section 194C Explained According to the Section 194C of the Income Tax Act, any individual making a fee to a residential individual, who carries out ‘work’ as a contract between the ‘specified individual’ and the ‘resident contractor,’ is obliged and required to deduct TDS (Tax Deducted At Source).
What is the TDS rate for 194C?
1\%
What is the rate of TDS?
| Sl. No | Nature of Payment | TDS Rate if PAN available |
|---|---|---|
| 1 | Payment / Credit to resident individual or HUF | 1\% |
| 2 | Payment/Credit to any resident person other than individual / HUF | 2\% |
| 3 | Payment/ credit to Transporters | NIL |
Who is liable to deduct TDS u/s 194J?
Who is Liable to Deduct TDS Under Section 194J? Everyone except an individual/HUF who is liable to make the following payments to any resident is liable to deduct TDS Under Section 194J: Fees for professional services and for technical services or.