Tds query urgent

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2011 WE ARE RUNNING AN HOSPITALITY SERVICES IN MEANS OF RESTAURANTS SO NOW MY DOUBT WAS


WE ARE RUNNING HOTEL IN THE SPACE OF Mr. A WITH AN AGREEMENT THAT "IN NET PROFIT WE LL GIVE 50% OF SHARE". SO WHILE AT THE TIME OF PAYEMENT OF THAT SHARE TO OWNER ( 50% OF SHARE) WE HAVE TO DEDUCT TDS OR NOT. IF YES MEANS HOW MUCH? PLS URGENT

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2011 URGENT PLS

20 December 2011 In my opinion it is better to deduct TDS as there is a contract to share in profits who is not a partner
For the Financial Year 2011-12-1% If PAN is there, if no PAN-20%

20 December 2011 as per my knowledge tds would be deducted @10% under sec 194I, SINCE OWNER HAS OBTAINED THE SHARE TOWARDS SPACE PROVIDE FREE OF COST.



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