194I
This query is : Resolved
13 January 2010
Dear all,
Whethert an individual (Falls under Tax Audit)paying rent to an individual is required to deduct Tax u/s 194I ?
[pmt exceeds 120,000]
Whethert an individual (Falls under Tax Audit)paying rent to an individual is required to deduct Tax u/s 194I ?
[pmt exceeds 120,000]
13 January 2010
If the rent is paid for business purposes & claimed as a deduction in computing the income of the said individual, then tax is to be deducted u/s 194I.
If payment of rent is personal in nature(own residential purpose) & no deudction is claimed in computing the income, Sec 194I doesnot apply.
If payment of rent is personal in nature(own residential purpose) & no deudction is claimed in computing the income, Sec 194I doesnot apply.
13 January 2010
Yes, if is under Business purpose we need to deduct otherwise no
14 January 2010
agree to experts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- GST ON DAMAGED GOODS
- Last year TDS Claim
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
