194 I or 194IB
This query is : Resolved
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%
Please reply
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%
Please reply
12 May 2023
UNDER WHICH SECTION TAX AUDIT REPORT WAS FILED?
WHAT WAS YOUR TURNOVER IN PRECEDING YEAR?
WHAT WAS YOUR TURNOVER IN PRECEDING YEAR?
16 May 2023
professional service turnover above 1 cr less than 10cr
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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