Rent paid TDS sec 194i or sec 194i(b)
This query is : Resolved
29 March 2024
Sir,
Tax audit it assessess rent paid to another tax audit assessess
Question:
Sec 194 I or sec 194 I (b) correct and difference between both sections.
Tax audit it assessess rent paid to another tax audit assessess
Question:
Sec 194 I or sec 194 I (b) correct and difference between both sections.
29 March 2024
194I applicable in this case.
According to Section 194IB, it is mandatory for any person, i.e. individuals / HUF not liable to audit u/s 44AB, to deduct taxes for rent paid to a resident, exceeding Rs 50,000 per month.
According to Section 194IB, it is mandatory for any person, i.e. individuals / HUF not liable to audit u/s 44AB, to deduct taxes for rent paid to a resident, exceeding Rs 50,000 per month.
Message likes :
1 times
29 March 2024
Section 194 I: TDS @ 10% is required to be deducted by only those categories of businesses /profession who are required to get their tax audit conducted by a CA under Section 44AB, If Rent paid/ payable during the Financial Year is more than Rs. 2.4 Lakhs .
194 IB: An Individual or HUF is paying rent of more than Rs. 50,000 per month and is not falling in the above category – such person would also be required to deduct TDS @ 5% under Section 194IB.
194 IB: An Individual or HUF is paying rent of more than Rs. 50,000 per month and is not falling in the above category – such person would also be required to deduct TDS @ 5% under Section 194IB.
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
- Fy 22-23 --> tyed more in gst 3b vs 2b, any interest?
- Refund of accumulated ITC - Reg.
- TCS ON SCRAP SALE..
- CSR activities ITC
- RELATED TO ITR OF POLITICAL PARTY
- Charity work ISD
- Journal entry of TDS operative a/c dr (under withdrawal side of bank a/c)
- Eway bill INWARD SUPPLY
- Rejection of the application for the registration of a society in Andhra Pradesh state
- Goodwill treatment
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
