TDS u/s 194IB
This query is : Resolved
29 November 2021
Is section 194IB applicable to a person who pays compensation/rent to a Pvt Ltd company in which he is a director.
Monthly payment is done by the director from his personal accounts.
If the section is applicable then at what point of time do i need to deduct tds? Monthly or on last month of respective financial year?
Monthly payment is done by the director from his personal accounts.
If the section is applicable then at what point of time do i need to deduct tds? Monthly or on last month of respective financial year?
29 November 2021
YES, TDS IS REQUIRED TO BE DEDUCTED AT 5%. DUE IN THE LAST MONTH OF FINANCIAL YEAR/ TENANCY.
29 November 2021
Thanks a lot for your prompt response.
My concern is that we are remitting the amount every month to respective account. Do i need to deduct every month or single deduction at end of FY will do
My concern is that we are remitting the amount every month to respective account. Do i need to deduct every month or single deduction at end of FY will do
29 November 2021
NO NEED TO DEDUCT TDS U/S. 194-IB, EVERY MONTH. SINGLE DEDUCTION AT THE END OF FY IS ALLOWED.
29 November 2021
YOU ARE WELCOME.
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