Tds by trusts
This query is : Resolved
24 March 2015
THE TRUST IS AN EDUCATION SOCIETY WHICH HAVE MANY SECTIONS UNDER IT(PRIMARY, SECONDARY, COLLEGE,ETC.)
IS THE TRUST LIABLE TO DEDUCT TDS U/S 1941 ON THE RENT PAID (FOR THE SCHOOL PREMISES) BY ITS SECTION TO A THIRD PARTY IF THE AMOUNT OF RENT EXCEEDS RS.180000 P.A.
IS THE TRUST LIABLE TO DEDUCT TDS U/S 1941 ON THE RENT PAID (FOR THE SCHOOL PREMISES) BY ITS SECTION TO A THIRD PARTY IF THE AMOUNT OF RENT EXCEEDS RS.180000 P.A.
24 March 2015
Yes.Trust is liable to deduct TDS on rent u/s 194I @10%. If PAN not provided then TDS to be deducted@20%.
24 March 2015
For the fy 13-14, if trust had not deducted TDS on rent of Rs. 300000 paid to outsider , what are the consequences???
Rupesh Jain
(Expert)
24 March 2015
after notice recd. you have to deposit the tds with intt. and file tds return.
for that every officer will in consider in default.
for that every officer will in consider in default.
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