Whether tds deducted or not from car rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2011
Dear Experts
Please HELP ME TO SOLVE THIS QUERY.
1. my client pay Machinery Rent Rs.850000/- & CAR RENT to same person Rs.150000/- ,My client deduct tds only from rent of Machinery but not deduct out of Car rent,they give justification becz car rent amount doesnt cross limit of Rs 180000/-, now my question whether the above justification given by client is proper or not .
Please HELP ME TO SOLVE THIS QUERY.
1. my client pay Machinery Rent Rs.850000/- & CAR RENT to same person Rs.150000/- ,My client deduct tds only from rent of Machinery but not deduct out of Car rent,they give justification becz car rent amount doesnt cross limit of Rs 180000/-, now my question whether the above justification given by client is proper or not .
15 September 2011
No income tax is required to be deducted at source if the aggregate amount of rent credited/paid or likely to be credited/paid to a single payee during the financial year does not exceed Rs.1,80,000/- from 1.7.2010 (previously it was Rs.1,20,000).
Here amount exceeds Rs 1.8 lacs to the single payee and hence TDS needs to be deducted.
Here amount exceeds Rs 1.8 lacs to the single payee and hence TDS needs to be deducted.
Hari Beldona
(Expert)
15 September 2011
TDS-Rent U/s 194I
No income tax is required to be deducted at source if the aggregate amount of rent credited/paid or likely to be credited/paid to a single payee during the financial year does not exceed 1,80,000/- from 1.7.2010 (previously it was 1,20,000).
No income tax is required to be deducted at source if the aggregate amount of rent credited/paid or likely to be credited/paid to a single payee during the financial year does not exceed 1,80,000/- from 1.7.2010 (previously it was 1,20,000).
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