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TDS clarification for rental?
Rental for furnitures and fixtures& Fittings Taxable TDS applicable.ad per sec 194I.Limit per annum 240000/- must dedect for TDS.But,Single bill 30000/- above applicable for rental TDS or Not?
Replies (5)
If it's exceeds 2.4lacs then only you need to deduct Tds.There is no single payment concept in 194I for tax audit cases.
For non tax audit cases only 50k single payment limit per month is applicable
For non tax audit cases only 50k single payment limit per month is applicable
Thank you very much sir.
It's advisable if the single contract exceeds Rs.2.4 lacs otherwise not.There are other conditions like if the same agency enters in many different contract under different orders, then it is also required.
TDS Deduction is Not Required in Your Case.
Not required to deduct any Tds
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