TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2011
Whether TDS is deductible when payment is made to Government/ PSU/ Local bodies?
Payment is made for the purpose of rent or interest on loan
Payment is made for the purpose of rent or interest on loan
chetan soni
(Expert)
17 February 2011
TDS deduction needs to be done & paid on the basis of Due or paid basis which ever is earlier.
Eg. Rent is due for the month of April 2010 but actually paid in Aug 2010. Then TDS is deductible in April 2010 & needs to be paid to Govt by 07th May 2010.
Eg. Rent is due for the month of April 2010 but actually paid in Aug 2010. Then TDS is deductible in April 2010 & needs to be paid to Govt by 07th May 2010.
Sunil Kr. Sanganeria
(Expert)
17 February 2011
Interst on loan is covered u/s 194A.
As per 194A of IT ACt, where interest is paid to any banking company, co-iperative socities engaged in banking , public financial institution, LIC, UTI a company or co-operative societies carrying on the business of insurance or other notified institution, 194A is not applicable and no tax is required to deduct on interst paid.
Rent is covered u/s 194I
As per 194I of IT ACt, where rent is paid to any Government, local authorities and statutory authorities referred to in section 10(20A)/10(20)no tax is required to deduct on rent paid.
As per 194A of IT ACt, where interest is paid to any banking company, co-iperative socities engaged in banking , public financial institution, LIC, UTI a company or co-operative societies carrying on the business of insurance or other notified institution, 194A is not applicable and no tax is required to deduct on interst paid.
Rent is covered u/s 194I
As per 194I of IT ACt, where rent is paid to any Government, local authorities and statutory authorities referred to in section 10(20A)/10(20)no tax is required to deduct on rent paid.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
