Is TDS applicable on hotel expenses?
Answer : Payments made by persons, other individuals and HUFs for hotel accommodation taken on regular basis will be in the nature of rent subject to TDS under section 194-I. Above circular specifies that TDS on payment of Hotel rooms shall be applicable wherein such rooms are taken on regular basis.
What is the TDS rate on hotel bills?
TDS rates- the TDS rate 10% in case of 194-I, and 5% for TDS under Section 194-IB.
Is TDS applicable on food items?
19 February 2015 TDS provision not applicable on supply of food. It is simply a contract for sale of food.
What is the rate of TDS on services?
TDS is to be deducted at the rate of 2 % on payments made to the supplier of taxable goods and/or services, where the total value of such supply, under an individual contract, exceeds Rs. 2,50,000.
Is TDS applicable on buffet dinner?
No TDS is applicable.
Is TDS applicable on banquet charges?
Yes, TDS is required to be deducted under section 194C of the IT Act if it majorly includes food cost (provided it exceeds.
What are professional services under 194J?
Professional Services It implies the services carried out by an individual in the medical, architectural, legal, medical or engineering profession. Other services include accountancy, interior decoration, advertising, technical consultancy or any other profession that is accepted by the Board under Section 44AA.
Is TDS applicable on buffet lunch?
What is difference between 194C and 194J?
As per my views section 194C relate to payment to contractors while 194J relate to fee for professional or technical servies. Thus according to section 194C “Technical in nature” means services providing manpower not consultancy. while section 194J relats to consultancy services.
What is difference between 194J & 194JB?
u/s 194J(a) of the Income Tax Act, is related to TDS deduction on fees for Technical Services, and u/s 194J(b) of the Income Tax Act is related to TDS deduction on fees for Professional Services.
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