questions on tax
This query is : Resolved
04 September 2008
suppose a bill has been submitted mentioning rent for premises-22000 and rent for furniture-70000. now as far as my knowledge goes as per sec 194I no TDS will be deducted as the amount of bill does not exceed Rs 120000. It is only Rs-92000. Am i right in this case or not -pl. explain
04 September 2008
1. Payment should be made by any person, except HUF & individuals
2. Tax to be deducted at the time of making due or making payment,
whichever is earlier.
3. Tax to be deducted @ 20 % plus surcharge plus education cess of total
amount (15% in case payment is made to Individual or HUF)
4. TDS only if annual amount exceeds Rs. 1, 20,000.
2. Tax to be deducted at the time of making due or making payment,
whichever is earlier.
3. Tax to be deducted @ 20 % plus surcharge plus education cess of total
amount (15% in case payment is made to Individual or HUF)
4. TDS only if annual amount exceeds Rs. 1, 20,000.
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