Which ITR should I file for 194J for a salaried employee?
ITR Form4 can be used if 194J receipt is less than Rs. 50 lakhs otherwise ITR 3.
How do I claim back 194J?
Q. 2 How can I claim TDS under section 194J? Ans: If the TDS is deducted under section 194J and total net income of the year is below the taxable income, then the payee can claim for refund of TDS so deducted under section 194J by the filing of an income tax return.
Is income under 194J taxable?
Section 194J requires deduction of tax at source @10\% from the amount credited or paid by way of fees for professional services, where such amount or aggregate of such amounts credited or paid to a person exceeds Rs….Section 194J TDS on Professional or Technical Fees.
| Nature of payment | Threshold limit | Rate of tax |
|---|---|---|
| Royalty | Rs. 30,000 | 10\% |
| Non-compete fees | Rs. 30,000 | 10\% |
Which ITR form is applicable for 194JB?
So you may use ITR 3 or 4.
What is difference between 194J & 194JB?
As per the utility, section code 194JA is assigned to denote deduction of tax under section 194J @ 2\%. Similarly, section code 194JB is assigned to denote deduction of tax under section 194J @ 10\%. For this purpose, section 197B is inserted in the Act by the Taxation and Other Laws (Relaxation and Amendment of Certain.
Do I need to file ITR-4 if my income is 194j?
You have income from salary. And also you have one instance of income from 194J and it means professional income. Thus , you have income from salary and professional income. Therefore, you need to file ITR-4. (Here it is assumed that income u/s 194J is less than ₹50 Lakh)
Which ITR should I file for professional income?
If you have professional income then the ITR you must file is ITR 3. However, you may also opt for presumptive scheme of taxation and file ITR 4 to enable you to free of any mandate of maintaining books of accounts which will be otherwise necessary if you file for ITR 3.
How do I file ITR-1 if TDS is deducted from my salary?
If you have income only from salary on which TDS deducted in Sec. 192B, You file ITR-1 form and shown it on salary income. If you have income from profession on which TDS deducted in Sec. 194J (10\%), you file ITR-4 or ITR-3 as applicable and depend on your income basis. Profession income shown in head of “PGBP”.
How to report income from house property on ITR?
You have to file Form ITR-1 which allows you to report salary income, income from house property as well as income from other sources. If you have received any other kind of income as mentioned in points 1, 3 or 4 above, you can either show it as income from other sources or business income.