Rent tds
This query is : Resolved
Mohit Khanna
(Querist)
17 September 2014
total rent paid rs. 360000 to one person rent of plant & m/c 180000, deduct 2% 3600, rest for building and deduct 18000 tds
Another 180000 paid to another person and no tds is deducted. is it right or not???
17 September 2014
why no tds is deducted ? tds u/s 194I is applicable in this case also.
17 September 2014
Rent paid to same person.
Rs 1.80 lacs for P & M
and
Rs 1.80 lacs for building.
Threshold limit of Rs 1.80 lacs is crossed since total payment u/s 194I is more than rs 1.80 lacs.
TDS should be deducted on Rs 1.80 Lacs for P & M @2%
and on Rs 1.80 Lacs for Building @10%.
Hope its clear.
Rs 1.80 lacs for P & M
and
Rs 1.80 lacs for building.
Threshold limit of Rs 1.80 lacs is crossed since total payment u/s 194I is more than rs 1.80 lacs.
TDS should be deducted on Rs 1.80 Lacs for P & M @2%
and on Rs 1.80 Lacs for Building @10%.
Hope its clear.
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