Dear all 1)when client PAy rent to LIC Tds on it should be Deducted OR not 2)When Computer purchased Tds on it Should be deducted or not IF deducted on What rate 3)What is the Effective Date of change in PT salb of MAharashtra 4)in any organisation Cash OR accural System both can be followed or not Please Reply Its Urgent THANKS
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Replies (2)
Only Cash or Merchantile system can be followed
Rent attracts TDS
Computer purchases do not attract TDS
Regards
P. Raja
Ans
1) TDS is deductible in this case U/s 194i @ 10% for all ( 20% from 01/04/2010)
2) TDS is NOT deductible in this case
3) can you help me to know what you mean by PT
4) Cash OR accural System both if used it is termed as Hibrid System of Accounting. Hibrid System of accounting is not recognosed.(Should not be used)
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