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Tds

TDS 733 views 4 replies
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Accountant
125 Points Posted on 19 April 2013

Mr. A  hire a open land From Mr. B  for 1 month. mr. B chrged Rent Rs 175000.

So Mr. A deduct TDS in the Payment of Mr.B if yes Than What is the percentage?

 

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On 19 April 2013 at 22:41 Report
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Accounts exe
455 Points Posted on 20 April 2013
10%.. But threshold limit is 180000 on rent
6 Reply
On 20 April 2013 at 00:49
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article
25 Points Posted on 20 April 2013
Sec194(I): tds @ 10% if the rent paid exceeds rs 180000 then tds on whole of such amt is to be deducted
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On 20 April 2013 at 10:52
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employee
356 Points Posted on 20 April 2013
Dear shehbaz, Threshold limit for hireing equipments is Rs. 180000 per year. Before deducting TDS on hire charges, deduct-er has Tax audit his books of accounts in previous year, than only he eligible for deducting TDS on hire charges.
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On 20 April 2013 at 11:48
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accountant cum auditor
44 Points Posted on 20 April 2013
u/s 194 i not applicable bcoz rent is <180,000 so dosen,t matter of tds 2nd matter percentage is 10% ok
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On 20 April 2013 at 11:50


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