TDS for Commission to Property Agent?

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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?

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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?
"


 

TDS Rates for AY 2010-11 (FY 2009-10)

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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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