TDS
This query is : Resolved
18 June 2011
If my contract of rent is for Rs2 lakhs, entered in september 1st. for the 7 months(i.e sept to Mar) since it does not exceed 1.8 lakhs should not we deduct TDS?
Pls consider.....
Pls consider.....
18 June 2011
No. Since it does not cross the threshold limit TDS deduction is not required.
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18 June 2011
But sir there is a provision that if we anticipate it ll exceed we can deduct TDS....is is not it???
18 June 2011
TDS deduction should start once threshold limit is crossed. But even if you have deducted the TDS no problem the party will get the credit.
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18 June 2011
Thank you sir...i got my point.In 194I its clearly given if it exceeds 1.8lakhs in the FY only TDS ll be deducted.....
Thank u very much for answering...:-)
Thank u very much for answering...:-)
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