banner_ad

Section 194i

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 June 2015 Dear Experts,.. an assessee has rent payable for f/y 2013-14 rs.. 150000...........In f/y 2014-15 asseesse paid amt rent payable(13-14) rs.150000......and rent for f/y 2014-15 rs..150000......means during f/y 2014-15, assessee paid total amt..rs 300000...being exceeding rs 180000...during year 2014-15....................I want to ask that whether tds u/s 194-I required to be deducted during 2014-15...because as per said section wordings are.."amount credited or paid (whichever earlier) exceeding 180000 -'DURING THE YEAR' and not 'FOR THE YEAR'..."
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
12 June 2015 If the rent amount for FY 2013-14 was already credited in FY 2013-14 and only the payment was being made in FY 2014-15 then Rs 150000 of FY 2013-14 will not be considered in calculating the threshold limit for FY 2014-15.

Liability to deduct TDS arises on date of payment or credit whichever is earlier. SO if there was no credit entry in FY 2013-14 then TDS will have to be deducted in FY 2014-15 on entire amount.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details