Section 194 ib
This query is : Resolved
shashikant
(Querist)
02 May 2016
sir,
Tell me about section 194ib.
i am purchase a machinery from the bank Rs.10,000/- and i paid a money monthly 1,000 to 10 month.
Bank can deduct the TDS.
Beacuse my 26AS is showing tds is deducted us sec 194ib
Tell me about section 194ib.
i am purchase a machinery from the bank Rs.10,000/- and i paid a money monthly 1,000 to 10 month.
Bank can deduct the TDS.
Beacuse my 26AS is showing tds is deducted us sec 194ib
Rupesh Jain
(Expert)
02 May 2016
Rs.1000/- this is rent or EMI for payment of amount take for buying the assets or you buy bank old assets ? pls clear
due to 194ib is tds on machinery rent if you are paying to bank then tds to be deducted by you not by the bank.
due to 194ib is tds on machinery rent if you are paying to bank then tds to be deducted by you not by the bank.
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shashikant
(Querist)
02 May 2016
RS.1000/- IS EMI OF MACHINARY.
BUT 26AS IS SHOW TDS IS DEDUCTED BY THE BANK IN 3 MONTH RS.21000 PER MONTH
26AS.
SEC. MONTH AMT PAID TDS
194IB OCT 21000 2100
194IB NOV 21000 2100
194IB DEC 21000 2100
BUT 26AS IS SHOW TDS IS DEDUCTED BY THE BANK IN 3 MONTH RS.21000 PER MONTH
26AS.
SEC. MONTH AMT PAID TDS
194IB OCT 21000 2100
194IB NOV 21000 2100
194IB DEC 21000 2100
shashikant
(Querist)
02 May 2016
I THINK THIS ENTRY IS WRONGLY ENTERED BY THE BANK
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