About tds working

This query is : Resolved 

23 September 2014 Dear All
I have Aquery regarding Tds On monthly rent of Rs 20425 for a office use,in casue of a company it is a it company.
psl sugest me for its tds liability...

23 September 2014 Since threshold limit of Rs 1.80 lacs p.a is crossing TDS required to be deducted by the payee u/s 194I @10%. If the payee is Individual / HUF and Tax Audit was not applicable for previous Financial Year then TDS deduction is not mandatory.

25 September 2014 Dear Sir,
One More Thing that limit Of 180 Is For Every Financial Year ????????I Mean From Next Financial Year ill continue to charge tds on monthly basis,or again ill wait for crosing this limit.......?

07 October 2014 yes this limit is for one year.

this limit is also available in next year also.

07 October 2014 As clearly written limit is Rs 1.80 lacs per annum.


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