Tds rent
This query is : Resolved
29 March 2014
WE HAVE FOUR FLOORS
1 FLOOR - 60000
II FLOOR - 55000
III FLOOR - 40000
IV FLOOR - 108000
IN THIS CASE
IV FLOOR 108000
TDS 2% 2160
IS IT CORRECT ?
I WANT TO KNOW ABOUT TDS SHOULD BE DEDUCTED IN TOTAL 4 FLOORS AMOUNT OR NOT ?
HOW SHOUID I RAISE A INVOICE FOR EACH FLOOR
CAN U PLEASE EXPLAIN..
THANKS IN ADVANCE
1 FLOOR - 60000
II FLOOR - 55000
III FLOOR - 40000
IV FLOOR - 108000
IN THIS CASE
IV FLOOR 108000
TDS 2% 2160
IS IT CORRECT ?
I WANT TO KNOW ABOUT TDS SHOULD BE DEDUCTED IN TOTAL 4 FLOORS AMOUNT OR NOT ?
HOW SHOUID I RAISE A INVOICE FOR EACH FLOOR
CAN U PLEASE EXPLAIN..
THANKS IN ADVANCE
29 March 2014
No u can't deduct TDS on Rs. 108000 since it does not cross the limit of Rs. 180000 u/s 194I(Rent).
Visit following link:
https://incometaxmanagement.com/Pages/Tax-Management-Procedure/3-13-Payment-Of-Rent-Section-194%20i.html
Visit following link:
https://incometaxmanagement.com/Pages/Tax-Management-Procedure/3-13-Payment-Of-Rent-Section-194%20i.html
29 March 2014
SIR THEN TAX PAYER DEDUCTED THE AMOUNT AND PAID 105840 INSTEAD OF 108000 DEDUCTED 2% OF INTREST AND PAYED THE CHEQUE..
WHAT I HAVE TO DO..
WHAT I HAVE TO DO..
29 March 2014
Firstly tell me the whole thing. That whether all the floors r occupied by same person? Whether it is for Residential use or commercial? And if Separate agreement is made for all the floors?
29 March 2014
SIR IT IS A COMMERCIAL. EACH FLOOR RENTED A DIFFERENT COMPANY
29 March 2014
Then there is no TDS applicable in this case. U can have a talk with them & try to solve the matter that the limit u/s 194I has not crossed. If after all that they r not accepting then u can sue them & u will get ur amount with interest.
29 March 2014
Venkatesh I suggest its better to hire a professional(like CA) in this case.
Message likes :
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29 March 2014
SIR THEN SHALL I ADD 2% TO THE TOTAL AMOUNT AND MADE INVOICE ON IT
29 March 2014
NO NEED TO DEDUCT TDS AS AGREEMENTS ARE DIFFERENT. TELL THEM NOT TO DEDUCT TDS AS NOT EXCEEDING 1,80,000/- P.A
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