Whether tds to be deducted on rent paid by sole proprietor
This query is : Resolved
06 April 2016
Ours is Sole Proprietorship Firm taken a commercial property on Rent (at Rs. 110000 Per Month + Service Tax) and not audited in last year. Whether we are liable to deduct TDS on rent paid. The owner of the property is Individual Person. Kindly suggest me.
07 April 2016
Dear Sir,
The provision of section 194I applicable to the individual or HUF whose turnover for the preceding year exceeding the maximum amount specify under section 44AB. in other words individual is required to deduct TDS only if his Books of accounts in preceding year audited under section 44AB of the income tax Act, 1961.
The provision of section 194I applicable to the individual or HUF whose turnover for the preceding year exceeding the maximum amount specify under section 44AB. in other words individual is required to deduct TDS only if his Books of accounts in preceding year audited under section 44AB of the income tax Act, 1961.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
