TDS

This query is : Resolved 

02 July 2010 Dear Sir

We have taking one equipment on Rental.
Please advice me we have deducted TDS on it

His monthly charge is RS.20000/-

Kindly advice

Please do the needful

Thanks and Regards,
Jignesh

02 July 2010 Yes you are required to deduct TDS@2% (If PAN not given by deductee @20%) u/s 194I.

02 July 2010 Rent is required to deduct u/s 194I for equipment taken on rental if the renr exceeds Rs. 180000/- in a year.TDS rate is 2%.

02 July 2010 thank u

My yearly rent charges about 240000

But till date i have paid 72000/- rent for three month

kindly advice we have deducted tds now or wait till we have paid 180000

after paid of 180000/-
how much consider amt for TDS


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