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of <h1>Finance Bill 2020 proposes reducing TDS rate on technical services to 2% u/s 194J, effective April 1, 2020.</h1> The Finance Bill 2020 proposes to amend Section 194J of the Income Tax Act to reduce the TDS rate on fees for technical services from 10% to 2%, excluding professional services. This change aims to minimize litigation arising from disputes over tax deduction defaults, where tax was deducted under Section 194C instead of Section 194J. The amendment seeks to clarify the appropriate TDS rate for technical services, while maintaining the existing 10% rate for other services under Section 194J. This amendment will be effective from April 1, 2020, as part of the Budget 2020-21.
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