tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2011
hello, sir, i am doing a film accounting where they take plant & machinery on rent. The rent of plant & machinery Limit is 1.80 lac. but the single payment are given by them is over 30000-50000 thousand. can we deduct Tds. our company is pvt ltd. now the supplier is ind/huf/firm/company,
what will i do
what will i do
03 July 2011
Yes. The agreement is signed for the Rent and it is a contract. You have to deduct the tax and deposit within time.
03 July 2011
Since the aggregate sum during the financial year does not exceed Rs.1.80 lacs, no need of TDS arises u/s 194I.
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