Is TDS applicable on event management?
Is TDS applicable on event management?
275/43/2008 dated 21.08. 2008, according to which it prescribes that TDS on fee for event management is to be u/s 194J.
What is the TDS rate for service charges?
From 1 April 2020, the payment of fees for technical service shall be subject to TDS at the rate of 2%. With effect from 01.04.2017, the tax on payments made to operators of call centres shall be deducted at a reduced rate of 2%. In case the payee does not furnish his PAN then the rate of deduction would be 20%.
Is TDS applicable on management fees?
While payment of sitting fees, fees for attending meetings etc paid to any director (whether whole time director/managing director or any other director) is considered as payment of professional fees under section 194J. TDS is required to be deducted at the rate of 10% and no threshold limit of rs.
What is TDS rate chart?
TDS Rate Chart for FY 2021-22
| Section | Nature of Payment | Others TDS Rate (%) |
|---|---|---|
| 194LBA | Income from a business trust to non-resident (applicable from 01.10.2014) | 5 |
| 194LD | Interest on certain bonds and Govt. securities (from 01.06.2013) | 5 |
| 194M | Payment to commission or brokerage by individual & HUF | 5 |
What is the GST for event management?
18%
18% GST Rate on Event Management Services.
What is the monetary limit per annum beyond which TDS provisions are applicable in case of caterer?
30,000 in a single transaction. Further, no TDS shall be deducted, where the amount or aggregate of amounts credited/ paid during the FY does not exceed Rs. 1,00,000.
What is the TDS rate for FY 2020 21?
TDS rates applicable for resident of India
| TDS Rate (%) | TDS Rates from 01.04.2020 to 13.05.2020 | TDS Rates from 14.05.2020 to 31.03.2021 |
|---|---|---|
| 5 (w.e.f 01.06.2016) (10 % from 01.04.2015 to 31.05.2016) | 5 | 3.75 |
| (a) 2 (b) 10 | (a) 2 (b) 10 | 1.5 7.5 |
| 1 5 (w.e.f from 01.06.2017) (If payment of Rent exceeds Rs. 50,000/- per month. ) 10 | 1 5 10 | 0.75 |
What is the TDS rate for FY 2019 20?
TDS Deduction Rate
| Taxable Income | Tax Rate |
|---|---|
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,000 to Rs. 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
What are the TDs on event management expenses?
TDS on event management expenses 194C or 194J the payments were essentially for domestic ticketing reimbursing hotel expenses tour leaders expenses which were essentially in the nature of travel agent who had arranged the ticket booking and hotel facilities and not for any technical services ava HOME Income Tax Direct Tax + More Indirect Taxes
What’s the difference between event MGT and TDs?
Hello everybody, as event mgt is a contract Tds rate as per Section-194c is applicable The best way to make a differciation in 194J and 194C is to bifurcate between Contractual amount and professional Charges. I.e.
What are the TDs rates for FY 2016-17?
The following are the TDS Rates Chart for Financial year 2016-17 and Assessment Year 2017-18. TDS rates are divided in two parts, one is for non salary (Other than salary) and second is for salary. The TDS rates for salary are normal slab rate applicable for that year.
Do you pay tax on event management services?
“Event Managers” in relation to sports activities falls under the “notified professional services” u/s 194J folllowing the Notifcation no.88/2008. Taking cue, it is better to deduct tax @ 10% u/s 194J rather than u/s 194C in case of other event managers too.