tds on hire charges
This query is : Resolved
29 July 2010
No TDS u/s 194I.
As it is below exemption limit.
For more clear reply please mention what is Hired. Who is paying and who is receiving hire charges?
As it is below exemption limit.
For more clear reply please mention what is Hired. Who is paying and who is receiving hire charges?
29 July 2010
/TDS limit for rent w.e.f 1/7/10 is 180000/- p.a. i.e Rs. 15000/- per month.
So TDS u/s 194 I will be applicable.
On point no. 2 : how much TDS --- need to know , what is rented ?
From whom it is rented ?
Who is paying rent ?
So TDS u/s 194 I will be applicable.
On point no. 2 : how much TDS --- need to know , what is rented ?
From whom it is rented ?
Who is paying rent ?
29 July 2010
Since the amount exceeds the basic limit ie the amount payable is RS.240000/-, TDS should be deducted u/s 194I @ 10%
29 July 2010
Sorry for mistake i read Rs.20000/- as Rs. 2000/-.
TDS should be deducted but please give more details for accurate reply.
TDS should be deducted but please give more details for accurate reply.
CA Ujjaval Desai
(Expert)
29 July 2010
WEF 01/07/2010 TDS u/s 194I is applicable if Rent paid Exceeds Rs. 1,80,000/- p.a,
hence TDS is applicable in the present case as amount exceeds Rs. 2,40,000/- if hire charges are covered as Rent u/s 194I else it will be covered u/s 194C.
hence TDS is applicable in the present case as amount exceeds Rs. 2,40,000/- if hire charges are covered as Rent u/s 194I else it will be covered u/s 194C.
CA.ViVeK M ACA
(Expert)
30 July 2010
TDS need to be deducted if total payment for the year exceeds Rs 180000/- under section 194 j...
in your case the total payment exceeds rs 240000 and hence TDS will be apply
in your case the total payment exceeds rs 240000 and hence TDS will be apply
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