Tds on rent
This query is : Resolved
KAMALAKANTA SAHU
(Querist)
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.
Rupesh Jain
(Expert)
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
