TDS On rent (194I)

This query is : Resolved

haresh (Querist)
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30 March 2009 i have bills from my creditors towards factory rent for rs. 96000 + 24000 = 120000/- for the financial year 2007-08 then tds is deductable under section 194i

C.A.Javid Patel

C.A.Javid Patel (Expert)
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30 March 2009 No, Because is limit is Rs. 120000/- for full year. If it exceeds Rs. 120000/- then TDS applicable

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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30 March 2009 No, TDS shall be deducted on rent payment over Rs. 120000 p.a.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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30 March 2009 i support the experts

Deepak Goel

Deepak Goel (Expert)
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30 March 2009 I am also agree with Experts.

Satish

Satish (Expert)
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31 March 2009 Rent paid in excess of Rs.1,20,000/- PA to a single vendor will attract TDS...in your case amount is not exceeding Rs.1,20,000/- hence not taxable...you have said Rs.96,000/- & Rs.24,000/- paid to creditors... please mention whether it is for a single / multiple Vendor and whether the amount mentioned is for PA or PM...