TDS on land and building
This query is : Resolved
ritesh kanodia
(Querist)
14 March 2008
Suppose a Co has taken two lands on Rent from Mr x. In 1st case rent is exceeding 120000 p.a and in 2nd case it is amounting to only 80000p.a so as per the statutory norms whether TDS should be charged for both the payments or for the one exceeding 120000 only.rep ASAP
S.Srinivasaraghavan
(Expert)
14 March 2008
TDS should be on both. Please see proviso to sectio 194 I
14 March 2008
TDS ON BOTH,COMBINED EFFECT SHALL BE CONSIDERED FOR THE PURPOSE OF TDS
CA J M Pattanayak
(Expert)
15 March 2008
Dear Ritesh,
TDS has to be deducted on both the payments reason being payment made to a single person and amount exceeding Rs.120,000 in a financial year.
TDS has to be deducted on both the payments reason being payment made to a single person and amount exceeding Rs.120,000 in a financial year.
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