I am doing a Trading Business
My Turnover is More Than 1Cr
I have Shop on Rent Monthly Rs.2000/-
Is it Compulsory to Deduct TDS on Rent Paid.
I am doing a Trading Business
My Turnover is More Than 1Cr
I have Shop on Rent Monthly Rs.2000/-
Is it Compulsory to Deduct TDS on Rent Paid.
No, you are not required to deduct tds. As per section 194I tds on rent is deductible only if total rent paid during the year exceeds 180000/-.
Agree with Nikhil
Sorry, i am paying rent 20,000/-monthly
Then you have to deduct tds @ 10%
You have to deduct TDS @ 10% u/s 194I, this should bo on amount exclusive of service tax(if any).
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