TDS Liabity

TDS liability U/S 194I arises where rent paid exceeds Rs. 1,20,000/- during the year.

best regards,

ratan

yes

Yes, TDS should be deducted

Dear All,

As per Sec 194(I), if rent is paid to any of assessee, TDS @ 10% must be deducted from the amount paid. (only if Rent paid exceed Rs. 1,20,000).

It doesn't matters if the receiver is related or non-related person.

Note: If the assessee doesn't quote his PAN, than TDS @ 20% must be deducted w.e.f. 01/04/2010.

Thanx...

Yes, 194I shall apply.

Agree with the members..