TDS u/s 194I - If the payment exceed the limit in 12th month
This query is : Resolved
Quick Summary
29 May 2021
Dear Expert,
We are company paying rent to landlord on monthly basis. per month rent rs 19500 hence we are not deducting any TDS. We have paid sum rs 214500 upto Feb'21 ( 11 months ). Suddenly Mar'21 onwards landlord has demand to increase the rent payment hence we have increase the rent from 19500 to 26500. in this case how much TDS will be deducted.? for the whole amount of rs 241000 ( 214500 + 26500 ) or for rs 1000.?
Please share any supporting's ( Case law,Etc ) if TDS need to deduct rs 241000.
We are company paying rent to landlord on monthly basis. per month rent rs 19500 hence we are not deducting any TDS. We have paid sum rs 214500 upto Feb'21 ( 11 months ). Suddenly Mar'21 onwards landlord has demand to increase the rent payment hence we have increase the rent from 19500 to 26500. in this case how much TDS will be deducted.? for the whole amount of rs 241000 ( 214500 + 26500 ) or for rs 1000.?
Please share any supporting's ( Case law,Etc ) if TDS need to deduct rs 241000.
29 May 2021
Deduct TDS on 241000.
29 May 2021
Agree with the above. Refer section 194I for details.
30 May 2021
Thanks for the confirmation. in this case we need to pay any interest for non deduction / late pay for rs 214500.?
30 May 2021
No, on the entire 2.41 lacs from the date of crossing the threshold limit till the date of payment
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- RELATED TO TRIBUNAL APPEAL
- Bank details not Visible on Traces Portal
- Taxability of Partnership firm for FY 2025-26
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- TDS AND ITR ISSUE
- RATE AND HSN CODE
- LIC maturity claim whether taxable
- 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
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
