WebFeb 11, 2024 · Can HUF provide professional services? HUF is offering Consultancy Services in Engineering to Clients. The fees received are accounted for in the HUF bank account. ... Any individual or HUF can get a tax deduction up to Rs. 1.5 lakh per financial year under Section 80C of the Income Tax Act and its allied sections such as 80CCC … WebJul 27, 2024 · Special provision for computing profits and gains of profession on presumptive basis. After section 44AD of the Income-tax Act, the section 44ADA shall be inserted with effect from the 1st day of April, 2024, namely:—. 44ADA. (1) Notwithstanding anything contained in sections 28 to 43C, in the case of an assessee, being a resident in India ...
A Facilitation Consultants Guide to Defining Your Services: 7 …
WebJul 23, 2024 · An individual or HUF will also have to deduct TDS under this Section if the turnover, sales or gross receipts from business/profession is more than Rs. 2 crores (tax audit cases). The Union Budget 2024 … WebMay 26, 2024 · TDS will be deducted under Section 194J at rate 2% in case of fees for technical services (not being professional services) and rate reach up to 10% of such … solid benzoic acid specific heat
Some Important Aspects of HUF Under Income Tax, 1961
WebEligible persons who can take advantage of the presumptive taxation scheme of section 44ADA A person resident in India engaged in following professions can take advantage of presumptive taxation scheme of section 44ADA:- 1) Legal 2) Medical 3) Engineering or architectural 4) Accountancy 5) Technical consultancy 6) Interior decoration WebFeb 11, 2024 · Rate of deduction of TDS on payment made towards Consultancy Charges under Section 194J of the Income Tax Act, 1961. The rate of TDS is as under: –. TDS shall be deducted at the rate of10%. … WebHer services include helping clients navigate digital transformation, portfolio planning, project risk management, and more. 13. Compliance Consulting ... What they all have in common is this: consultants provide expertise and advice to businesses or organizations. If you can do that, you can consult. small 115 volt ac electric motor bearings