TDS APPLICABLE OR NOT
This query is : Resolved
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..
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.
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.
Message likes :
2 times
02 March 2010
prescribed rates.
m making a total payment of Rs.18000. what rate will be charged? 20% or 2%?
m making a total payment of Rs.18000. what rate will be charged? 20% or 2%?
CMA Ramesh Krishnan
(Expert)
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.
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%
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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