Whether tds under section 194ib applicable
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2018
One of my client having a proprietorship firm turnover having turnover approximately Rs.1.50 crores has opted for presumptive taxation u/s 44AD by showing profit exceeding 8% of the turnover. But since the salary of 1 employee exceeded the taxable limit , it had obtained TAN No. Now it pays rent exceeding Rs.50,000/- so now whether Sec 194IB would be applicable or Sec 194I.
If Section 194IB would be applicable then Form 26QB has only to be filled? Pls guide.
Thanking you in advance..
If Section 194IB would be applicable then Form 26QB has only to be filled? Pls guide.
Thanking you in advance..
28 March 2018
Applicable section is 194IB and form is 26Q
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