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.
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.
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.
as far as commission is concern, deduct 10% of total commission.
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
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- NRI starting business in India
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- Filling ITR - U
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
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
