if a shop is in under audit, and paying rent 30000/- pm but not by chaque by cash only than their is any need to deduct tds in that case pls sugges.
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TDS on Rent
Replies (7)
Tds deductible. But, the said expenses disallowed under it act as Cash payment exceeding 10k...
yes that is.confusion thet the amt is more than 10k in cash so whether tds is deductable or not.
thank you.
thank you.
TDS deductible is must as its your liabilities. So, Deduct TDS.
TDS is deducted under section 194 I on payment basis and not on mode of payment. hence tds is deducted at 10% in this case
make partial payment to landowner i.e 10,000×3
and deduct TDS when payment cross 1,80,000
and deduct TDS when payment cross 1,80,000
It's not applicable.. .. ..
if rent is paid in cash, sec 40A(3) attracts, and if TDS not deducted sec 40a(ia) attracts
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