194 I or 194IB

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CA Nidhi Kanabar (Querist)
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12 May 2023 Hello,
suppose I am proprietory concern and filed Tax audit report and I am paying rent exceeding 50000 to resident person for residential use then tds to be deducted under what section 194 I or 194 IB ?? should I deduct TDS @ 10% or 5%

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 May 2023 UNDER WHICH SECTION TAX AUDIT REPORT WAS FILED?
WHAT WAS YOUR TURNOVER IN PRECEDING YEAR?

CA Nidhi Kanabar

CA Nidhi Kanabar (Querist)
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16 May 2023 professional service turnover above 1 cr less than 10cr

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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16 May 2023 In that case you are liable to deduct TDS under all IT provisions. For rent you should deduct TDS u/s. 194-I of the act.

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