194j

GST

RCM under GST applies to remuneration to employee director u/s 194J and not u/s 192 – Clarifies CBIC!

Introduction Under the current GST Law, remuneration given to a Director (by whatever name given) is a taxable service chargeable under Reverse Charge Mechanism (‘RCM’) for levy of GST1. On the other hand, an employee performing his...

Monark Padmani - June 23, 2020

Income Tax

Amendments in TDS Provision in Finance bill, 2020 – Section 194J, 194, 194K

The Union Budget 2020 has brought several changes in the provisions of TDS which will take effect this financial year. Here are the Key Amendments that were introduced in the TDS Provision: Section 194J-Fees for...