Tds

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Rahul (Querist)

11 October 2014 I booked hotel bills (Stay Charges) but today it crossing 1,80,000. I'm going to deduct TDS from beginning but what is the effect of Interest on TDS? Shall I fill Interest also or without interest?

@VaibhavJ

@VaibhavJ (Expert)

11 October 2014 Its without interest..

Thanks

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

11 October 2014 Deduct TDS on total amount and deposit within 7th of next month. No need to pay interest.

Rahul

Rahul (Querist)

12 October 2014 thank you sir.
Can you give me please circular No. for that

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

12 October 2014 Dear Rahul please refer section 194I. TDS is required to be deducted once threshold limit is crossed. So in the given case the question of interest do not arise since TDS is deducted on crossing threshold limit and same is being deposited within 7th of next month.

Rahul

Rahul (Querist)

12 October 2014 Thank you sir..................

@VaibhavJ

@VaibhavJ (Expert)

12 October 2014 Refer for more details: https://taxguru.in/income-tax/faqs-tds-rent-section-194i-income-tax-act-1961.html

Thanks

Rahul

Rahul (Querist)

30 October 2014 thanks................

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