The TDS Deduction under Section 193, 194E, 194J, 194LA and 194LLA has been affected in budget of income Tax. Under Section 193 of Income Tax the Limit has increased from Rs. 2500/- to 5000/- in the provision of Interest on Debentures. Thus the deduction of TDS Rate under section 194E also has been increased by 10% mean it comes now @ 20% on payments to non resident sportsmen, sports associations and entertainer etc. In the Budget new provision accorded under section 194J i.e. Directors Remuneration which required on Fees for Professional or Technical Services. Thus we give you ready reckoner regarding major changes regarding TDS/TCS in Budget, see the below:
|
Section
|
Provision
|
Changes
|
|
193
|
Interest on Debentures
|
Limit increased from Rs. 2500/- to Rs. 5000/-
|
|
194E
|
Payments to non-resident sportsmen, sports associations,
entertainer
|
Rate increased to 20% from 10%
|
|
194J
|
Fees for Professional or Technical Services
|
Directors Remuneration Covered
|
|
194LA
|
Compensation on acquisition of immovable property
|
Limit increased to 2 Lacs
|
|
194LLA
|
Transfer of immovable property other than agriculture land
|
Rate= 1%
|
|
Limit:-
|
||
|
Less than 50 lacs/25 lacs for specified/non specified area
|
0 comments:
Post a Comment