Tds on rent and payment towards use of business setup

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2013 Dear Expert,
I am professional having gross profesional fee of Rs. 21.50 lakh during the Financial Year 2012-2013. Recently I have taken on hire a complete business setup and entered MOU (its noterised and not regsitered). I have to pay Rs. 15,000/- pm as rent and 10% of gross professional fees on monthly basis toward use of complete business setup including goodwill.

Considering above, whether am I required to deduct TDS on Rent and on 10% commission payable on gross professional fees. If yes, under which section of TDS?

Kindly guide me.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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23 July 2013 If rent you are referring is rent of office space and for furniture, there is no need to deduct TDS as total payment does not exceed 180000.

as far as commission is concern, deduct 10% of total commission.

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