tds on ent of machinery 194I
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2010
amount of rent credited till 30.9.09 is 94265\- and it crossed tds limit in the month of october. total amout for the fy 2009-10 is 128430 what is the amout of TDS. whether it is calculated separately 10% up to 30.09.09 and 2% there after. OR on whole amount 2%.
Shyam Lal Naik
(Expert)
20 March 2010
Depends on the agreement/arrangement.
If the amount was likely to exceed the threshhold, TDS should have been deducted wef 01.04.09.
In other case, 2% on whole amount once the amount crosses the threshhold.
Let us seek more opinion on the matter.
If the amount was likely to exceed the threshhold, TDS should have been deducted wef 01.04.09.
In other case, 2% on whole amount once the amount crosses the threshhold.
Let us seek more opinion on the matter.
CA Ashok Kumar Sahu
(Expert)
20 March 2010
agree with naikji
Aditya Maheshwari
(Expert)
20 March 2010
TDS should be calculated separately 10% up to 30.09.09 and 2% there after.
CMA Ramesh Krishnan
(Expert)
21 March 2010
I agree with Mr.Shyam , Rent based on the agreementif the rent expected exceed thershold limit .you need to deduct 10 % up to 30.9.2009 and after that 2 %
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