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Tds

This query is : Resolved 

02 June 2017 Hi Experts,Suppose we are paying rent of 140000/- per month TDS should be done every month or it can be deducted in Feb 18 and Mar 18

02 June 2017 As per section 194 I Rent of plant and machinery2% Rent of land or building or furniture or fitting  10% or (5% if rent exceeding Rs 50,000 / month is paid by individual/HUF who are not liable for tax audit) (5% column is added in this budget) and it should be deducted every month and filed before the due date ie.7th of next month and in case not deducted then there will be penalty of 200 rs per day

02 June 2017 It's a Private ltd co. And pays rent if 140000 per month . Need to deduct TDS every month or in FY ending total once TDS can be deducted

02 June 2017 It's pvt ltd co. Paying rent 140000 per month. Need to deduct TDS monthly or once in year we can deduct TDS?

03 June 2017 As per the provision Tds needs to be deducted at the time of crediting party or rent or at the time of payment
whichever is earlier
Tds is to be deducted on the net amount i.e excluding taxes
As you also need to see service tax as it may apply in your case

03 June 2017 Service tax apply, can you tell how it attracts service tax also

06 June 2017 It attracts service tax coz it is covered by renting of immovable property service
and amt is more than 10 lacs



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