TDS u/s.194I on Machinery Rent Limit is Rs.240000/-, but We are paid Machinery Rent of Rs.30000/- in a Single Bill & not cross the limit of Rs.240000/- in the same year.
Please Suggest, Can we deduct TDS on the bill of Rs.30000/-
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TDS u/s. 194 I for Rent of Machinery
Replies (2)
Quick Summary
No. not liable till you cross the limit of Rs. 2.40L
If there are probabilities of recurrence of such expenditure then it's imperative to provide for such liability and deduct from such successive bills otherwise not.
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