We are been paying rent after deducting TDS (194I) and TDS is been depositing with Govt every month bill to bill. And the transaction or the rent paid is crossed 50,00,000(Fifty Lakhs), as per the Income Tax new rule we need to deduct TDS under sec 194Q once the purchase crosses threshold limit.
As we are already deducting TDS u/s 194I and making the payment, do we need to deduct TDS u/s 194Q as well for rent.
CAclubindia
