Hello, there is one commercial property where the tenant is deducting TDS under 194IA and paying the remaning rent directly in bank , He is also demanding ST Number, I need to know if ST number is necessary and if yes, how can I apply online?
Udgam Koomar (Tax Technologist) (1949 Points)
24 August 2015Hello, there is one commercial property where the tenant is deducting TDS under 194IA and paying the remaning rent directly in bank , He is also demanding ST Number, I need to know if ST number is necessary and if yes, how can I apply online?
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 24 August 2015
I assume the tenant is deducting TDS u/s 194I. If owner of the property is charging ST, then s/he is required to mention the ST registration no. on the invoice raised. The owner is required to get registered under ST if his/her turnover has reached Rs.9 lacs limit. However, the exemption limit for charging ST is Rs.10 lacs.
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 25 August 2015
Okay, Thanx But in form 16A issued by the deductor, the section is mentioned as 194IA rather than 194I as mentioned by you, IA is for sale/transfer I guess, does it make any difference?
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 25 August 2015
194IA is applicable for payment on transfer of certain immovable properties. For rent TDS applicable u/s 194I @ 10% in this case.
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