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TDS on Rent
What if my Firm is non audit firm and my shop rent is 25000 monthy and i dont have any Tan No. so whats the rule applicable.
Replies (4)
for firms whether covered under audit liability or not, if the aggregate payments by way of rent exceeds 240000 PA then TDS has to be deducted mandatorily
not liable to deduct tax. (SECTION 194-I )
For proprietorship non=audit firm TDS section 194-I not applicable; but for partnership firm its applicable.
Thanks.
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