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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TDS
Replies (3)
| 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)Uploaded on 7/18/2009 11:46:47 PM |
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[ Scorecard : 8384] My Other Files
4.7
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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