Tds
This query is : Resolved
06 August 2012
Sir/Mam
one of My friend paid rent of Rs.350000, he is liable for Audit in this year, but he don't have TAN no. so didn't deduct tax, there is any tax planing so the expenditure become allowable,
if he bifurcate expenditure as
175000 for rent
175000 for furniture etc. then TDS liability arise or not
one of My friend paid rent of Rs.350000, he is liable for Audit in this year, but he don't have TAN no. so didn't deduct tax, there is any tax planing so the expenditure become allowable,
if he bifurcate expenditure as
175000 for rent
175000 for furniture etc. then TDS liability arise or not
06 August 2012
Being a freind as well as CA it's your duty to get TAN No. for him.
.
The above bifurcation will not save your friend from his TDS Liability is payee is one & the same person.
.
Please also specifically write the Assessment Year for which he is liable for Audit and the FY to which the expenditure pertains.
.
.
The above bifurcation will not save your friend from his TDS Liability is payee is one & the same person.
.
Please also specifically write the Assessment Year for which he is liable for Audit and the FY to which the expenditure pertains.
.
07 August 2012
Dear Paras Sir,
expenditure pertains for the A.Y. 2012-13 & Audit liability also for same A.Y.
But sir we have seprate exemption limit for both @1.80 Lacs each.
expenditure pertains for the A.Y. 2012-13 & Audit liability also for same A.Y.
But sir we have seprate exemption limit for both @1.80 Lacs each.
07 August 2012
In case of an individual/HUF, TDS is required to be deducted if the individual/HUF was required to get his accounts audited in the PREVIOUS YEAR.
The expenditure is for the FY 11-12.
Accordingly, TDS was required to be deducted if the assessee was required to get his accounts audited in FY 10-11.
If he was not required to get his accounts audited in the FY 10-11, TDS is NOT required to be deducted on such rent and the expense shall be allowed.
The expenditure is for the FY 11-12.
Accordingly, TDS was required to be deducted if the assessee was required to get his accounts audited in FY 10-11.
If he was not required to get his accounts audited in the FY 10-11, TDS is NOT required to be deducted on such rent and the expense shall be allowed.
07 August 2012
In case the person receiving Rental Charges is the same TDS provisions are applicable.
.
The limit may be understood on the basis of
Payee.
.
Expert Siddharth Bhardwaj's reply is quite explanatory and wholesome.
.
The limit may be understood on the basis of
Payee.
.
Expert Siddharth Bhardwaj's reply is quite explanatory and wholesome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- ITDS U/S.194T of Firm
- Invertaded duty struture
- Non-Compliance documents have not been submitted by the contractors debited
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- GST not cancelled by tenant
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- CREDIT NOTES WITHOUT GST
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
