Tds on rent
This query is : Resolved
02 January 2015
My company paid rent to its party mr.X from april to july @ 15,000/- per month, no tds deducted that amount as per section 194I limit 1,80,000/-. But from august to december paid 40,000/- per month & deducted tds 10% = 4000/-. My question is beginging four month 15000x4= 60000 in that amount tds will be deduction nor not & if deducted, interest will charged from which date. please clearyfy that subject.
02 January 2015
TDS required to be deducted on the amount of begining 4 months as well. Liability to deduct TDS will arise when threshold limit is crossed. So If TDS is deducted on entire amount in the month in which threshold limit is crossed and deposited on or before 7th of the next month then no interest is required to be paid.
02 January 2015
you have to deduct the tds if you pay rent excess rs. 180000/- in a year to one person then you have to deduct the tds @ 10%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- Off Market debit and credit transaction
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- ITR returnFY25-26
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
