Income tax query

1) No, TDS deduction not required.

2) No, service tax not required

3) Good to maintain books of accounts

4) No, audit not required

5) Yes, advance tax payable.

Yes,agree with MIHIR and how much advance tax is payble on which dates is mentioned in the following attached sheet

Yes,You are liable to deduct T.D.S if rent paid in financial year exceeds rs.180000 provided your business turnover for Last financial year exceed limits specified under sec 44AB and asset should be taken on  Rent for business. But in your case it is house taken on rent for your Residential purposes hence T.D.S provisions will not apply!

ACCORDING TO ME,  TOTAL INTEREST PAYABLE U/S 234C IF THE TAX IS PAID UPTO 15-03-2014 IS RS.712.00

PFA

REGARDS

There will be no penalty but you are liable to pay Interest u/s 234C and Interest Payable under this section is as our Suksham Arora said it is rs712