Tds on rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2014
Dear Sir,
My client has started a new business, the rent payment is Rs. 2,55,000/- p.m., and its turnover is below 1 cr., then TDS on Rent is applicable or not?
My client has started a new business, the rent payment is Rs. 2,55,000/- p.m., and its turnover is below 1 cr., then TDS on Rent is applicable or not?
Sandeep Dharar
(Expert)
11 March 2014
Ya u should deduct TDS on rent @10%, coz it crosses the limit of Rs. 180000/- in a financial year. It is not based on annual turnover of the organisation.
Ganeshbabu K
(Expert)
11 March 2014
What is the statusof ur client
.
.
Tds deduction mandatory if ur client is other than huf or individual(i.e.,tds required to be deducted if ur client is partnership..or company irrespective of turnover
.
No tds required if he is individual and turnover not exceeded 1crore in previous year
.
.
Tds deduction mandatory if ur client is other than huf or individual(i.e.,tds required to be deducted if ur client is partnership..or company irrespective of turnover
.
No tds required if he is individual and turnover not exceeded 1crore in previous year
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