If a person pay commission to Property agent , shall he liable to deduct TDS on it or not?
If yes what is the maximum limit for this?
and please also refer the concerned section?
deepak Gupta (Chartered Accountant) (150 Points)
20 July 2009If a person pay commission to Property agent , shall he liable to deduct TDS on it or not?
If yes what is the maximum limit for this?
and please also refer the concerned section?
deepak Gupta
(Chartered Accountant)
(150 Points)
Replied 20 July 2009
| Originally posted by :deepak | ||
| " | If a person pay commission to Property agent , shall he liable to deduct TDS on it or not? If yes what is the maximum limit for this? and please also refer the concerned section? |
" |
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 20 July 2009
TDS Rates for AY 2010-11 (FY 2009-10)Uploaded on 7/18/2009 11:46:47 PM |
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Abhishek Mohta
(ACON)
(508 Points)
Replied 21 July 2009
Commission paid to a property agent is liable to TDS U/s 194C as the agent though is rendering professional services but this profession is not prescribed by the Board. Thus the service rendered by the agent will be a contractual service to his client.
The minimum amount threshold for the same is 20000 for a single bill or 50000 for the entire year. TDS has to be deducted @ 2% if the any of the conditions is exceeded.
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