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)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shubham Jain

Sanjay Ratnani

Anirudh Sharma

6380177036

Chnmaya parhi

Subscribe Now

Tds on rent and payment towards use of business setup

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

CA Final

GST CONSULTANCY

GST CONSULTANT

Accountant