TDS ON RENT

TDS 627 views 1 replies

Mr.x  runs a consultancy firm,  his turn over of professional fee receipt is Rs.7,00,000/- for F.Y.2009-10,

Q-1) he pays office RENT of Rs.15000/- p.m., is TDS aplicable on such RENT. (7LAC TURNOVER NOT LIABLE TO AUDIT)

Q-2) he his not liable for service tax for F.Y.2009-10, Wt is service tax limit for F.Y.10-11

Replies (1)

1) Yes. TDS is applicable on the rent paid (15,000 x 12 = Rs. 1,80,000) ie. above the prescribed limit of Rs     1,20,000 p.a.                                                                                                                                                                  

 2) And the Service Tax limit is Turnover above Rs 10,00,000.


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