Rental income plus service charges
This query is : Resolved
Practicing CA
(Querist)
17 October 2011
If the premises is given for utilization & the compensation for the same is received in 2 ways ie
Rs 15,000/- per month as Premises Rent &
Rs 10,000/- per month as Charges for services for amenities. Now here TDS provision for Rent not applicable (as amt not exeeding Rs 180,000/- per annum.)
For rest Rs 10,000/- per month can we say 194C is applicable since it is a contract for services provided and deduct tax @ 2%?
Rs 15,000/- per month as Premises Rent &
Rs 10,000/- per month as Charges for services for amenities. Now here TDS provision for Rent not applicable (as amt not exeeding Rs 180,000/- per annum.)
For rest Rs 10,000/- per month can we say 194C is applicable since it is a contract for services provided and deduct tax @ 2%?
17 October 2011
YES TDS ARE REQUIRED TO BE DEDUCTED U/S 194C BECAUSE AGGREGATE OF THE AMOUNTS MORE THAN 75000....IF THIS AMOUNT PAID TO SPECIFIED PERSONS...NOT BEING HUF OR INDIVIDUAL THAN TDS RATE WILL BE 2% ..OTHERWISE 1%
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