TDS APPLICABLE OR NOT

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yadav (Querist)
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02 March 2010 I have a querry regarding Tds applicability on Rent of separate agreement possessed by a single person.XYZ person pays rent for a Office (Rs.9000) & Furniture (Rs.9000). He has separate agreements. Payment is made through separate cheques but in the of XYZ only. Whther tds will be applicable or not? If yes, under which provison? Pls Reply..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 March 2010 Dear Mr. Yadav

TDS will be attracted u/s 194I if the threshold limit of Rs 1,20,000/- p.a. (Proposed limit w.e.f 01.07.2010 is Rs.1,80,000/- p.a.) is exceeded including both Rent of Office and Rent of Furniture.

It does not matter if you have separate agreement or not, what matters is that the agreegate amount you are paying to that person.

So you will have to deduct TDS at the prescribed rates.

Hope your queries are answered.

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yadav

yadav (Querist)
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02 March 2010 prescribed rates.
m making a total payment of Rs.18000. what rate will be charged? 20% or 2%?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 March 2010 I am having my question here.you are having agreement in one name and paying cheque in another name? there is no objection from your auditor.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 March 2010 IF YOU ARE MAKING PAYMENT TO AN INDVIDUAL OR HUF ON ACCOUNT OF RENT BEFORE 01.10.09 THE RATE WILL BE 15% (SURCRGES & CESS AS APPLICABLE). IF YOU ARE MAKING PAYMENTS ON OR AFTER 01.10.09 THE RATE WILL BE 10% (NO SURCHARGES OR CESS).

IF YOU ARE MAKING PAYMENT TO A PERSON OTHER THAN INDIVIDUAL OR HUF
BEFORE 01.10.09 (20% + SURCHARGES & CESS)
ON OR AFTER 01.10.09 10%

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