Tds U/s 194I
This query is : Open
24 September 2017
Sir
We have registered a partnership firm in July 2017 and paying rent for amounting Rs 50000/- Pm.... Kindly advise whether we required to deduct tds or not.....
24 September 2017
No need...
If your firm is newly started. When you reach your turn over 1cr then you can deduct TDS on everything...
Also you can deduct TDS on next FY (18-19)
25 September 2017
Yes. You are correct... I'm also wrongly meaning it...
Partnership firm can be deduct TDS. You ll deduct TDS on Rent....
25 September 2017
TDS has to be deducted in the above case u/s 194I @ 10%.
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