Practicing Company Secretary/Tax Consult
403 Points
Posted on 19 February 2009
The Income Tax is deductible if anybody pays the rent in excess of Rs.1,20,000/- p.a.. However, the TDS is deductable when your accounts are required to be audited u/s 44AB (i.e. crossing of annual turnover of Rs. 40 lakhs in case of business and Rs. 10 lakhs in case of professional).
While deducting the TDS, the PAN Number of the payee is required for issue of TDS certificate and filing of TDS return (if accounts are required to be audited).
In your case, there is no need of TDS and no need to obtain the PAN Number/PAN card copy.
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