TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 December 2010
As per S 194I thresold limit has been increased from 120000 to 180000 wef 1.7.2010.
In this case auditee while paying rent of Rs.12000pm not deducted tds but as per limit from april2010 to june 2010 is 120000(tds suppose to be deducted). in this case based on which limit we hv to consider for PY10-11, whether in this case auditee will get disallowed for 1st three months or not.
pls advice from tax audit point of view.
In this case auditee while paying rent of Rs.12000pm not deducted tds but as per limit from april2010 to june 2010 is 120000(tds suppose to be deducted). in this case based on which limit we hv to consider for PY10-11, whether in this case auditee will get disallowed for 1st three months or not.
pls advice from tax audit point of view.
CMA Ramesh Krishnan
(Expert)
30 December 2010
TDS limit is aggreate limit for the year. so For 3 months (12000x3)Rs.36000,it is below the thershold limit hence TDS will not apply
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