TDS Interest .......

This query is : Resolved

Goongan (Querist)
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19 May 2011 Dear All,
I am going to paid on 19/05/2011 to a proprietorship firm for hoarding rent (Advertisement) @ 8000/- per month from April 10 to March 2011. Total bill 96,000/- What Amount of TDS we should deduct and what interest will charge?

Thanking You

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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19 May 2011 There wont be any TDS on the same as you are paying for the rent of the hoarding space and the same shall be in the form of rent for the payee. So, TDS is required u/s 194I but as the payment is under the limit i.e. 180000, no TDS is required.

Goongan

Goongan (Querist)
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19 May 2011 Sir,
As per bill of WHEELS (party) it is under head of “DISPLY OF HOADDINGS”.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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19 May 2011 who is designing the hoardings. Whether the designing is done by the WHEELS only?

Goongan

Goongan (Querist)
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19 May 2011 Ya ...... Flex also .......

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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19 May 2011 In this case, it shall be categorised under advertisement services. Tax is to be deducted u/s 194.
Rates--
1% if the payee is individual or HUF
2% if the payee is other than individual or HUF.

Goongan

Goongan (Querist)
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19 May 2011 Sir,
Interest Calculation ..........

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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19 May 2011 The payee is Individual /HUF or other entity?

Goongan

Goongan (Querist)
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19 May 2011 Individual ...........

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