When we pay rent we deduct TCS or TDS? Experts please help

TDS 2402 views 18 replies

Dear Prateek,
                       I refer the Recknor which suggest that TCS is not applicable when any goods sold to consumer i mean when retailer sold to the customer who use this product for its own consumption.in this case seller not have to charge TCS.i think that is the right provision.

Replies (18)

Dear Prateek,
                       I refer the Recknor which suggest that TCS is not applicable when any goods sold to consumer i mean when retailer sold to the customer who use this product for its own consumption.in this case seller not have to charge TCS.i think that is the right provision.

TDS, @ Rent > Rs.1,80,000 on entire amount of rent Paid / Payable durig the fin. year.

Also note, TDS is not deducted on Sr. Tax charged on rent.

 

Example,

Rent : Rs.200000

Sr. Tax @ 12.36% 47200

And you'll deduct TDS @ 10%(If you have the pan#) u/s 194 i = 2,00,000 x 10% = TDS is Rs.20,000

*Note, you''ll deduct TDS @ 20% if PAN# is not available

 

Thats it........

WE ARE POSTING RENT ENTRY ON MONTH ENDING.  WHEN THE TDS EFFECTS @ THE TIME OF PAYMENT OR POSTING ENTRY?

 

Hello,

apne kuch service receive karte hai to us par tds deduct kar ke payment karte hai..like manpower supply service, transport service, salary, rent etc....
but agar apne kuch good buy karte hai to us par tds deduct kar ke payment nai karte hai..purchase of machinery… good purchase me tds nai lagta hai

TCS good ke purchase karne pe lagta hai….but limited good pe lagta hai


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