Tds
This query is : Resolved
CA Harsh Kothari
(Querist)
04 June 2012
A company who is not liable for Tax Audit, is it required to deduct TDS for the various payments it makes throughout the year?
for example,
A company pays rent of Rs. 320,000 p.a. Is it required to deduct TDS on it?
for example,
A company pays rent of Rs. 320,000 p.a. Is it required to deduct TDS on it?
Ca Anand Dubey
(Expert)
04 June 2012
Yes tds is compulsory for company
CA Harsh Kothari
(Querist)
04 June 2012
Thanks alot Sir
Is there any section which specifies this?
Is there any section which specifies this?
Aditya Maheshwari
(Expert)
04 June 2012
Read the respective sections you will find it. Eg. In case of rent section 194I
194I Any person, not being an individual or a Hindu undivided family, who is responsible for paying to 9[a resident] any income by way of rent10, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, 11[deduct income-tax thereon
194I Any person, not being an individual or a Hindu undivided family, who is responsible for paying to 9[a resident] any income by way of rent10, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, 11[deduct income-tax thereon
CA CS Amit S. Kedia
(Expert)
04 June 2012
Section 194I itself says.
CA Harsh Kothari
(Querist)
04 June 2012
thanks a lot, so i could check d section under which i m making the payments.
Thanks!! :)
Thanks!! :)
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