No tds will not be attracted because the income has not crossed the specified limit of Rs 120000.
Also service tax is not the income,because he would have to deposit whole amount to Govt.
No tds will not be attracted because the income has not crossed the specified limit of Rs 120000.
Also service tax is not the income,because he would have to deposit whole amount to Govt.
TDS is to be deducted only on Rent (exclusive Service Tax) if rent paid is more than 120000 in a financial year.
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Pawan (CA Final) No deduction shall be made under section 194-I where the amount of such income, or as the case may be, the aggregate of the amount of such income credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or, to the payee, does not exceed 120 rupees
hence, in the given case amount of Rent does not exceeds 120 thousands. As there is no liabilities to Deduct tax at source.
Note: Since 194-I contain "amount of such income".service tax is exempt to TDS, value of service tax shall not be concidered as rent.
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no need to deduct TDS
We are going to make payment of rent to non-resident for the property based in singapore, kindly clarify under which section and what rate should be applied for TDS deduction.
if u exceed rent amonut Rs. 120000 then only tds is 2 b deducted.... n services tax amt is 2 b ignored while considering d limit of Rs. 120000
tds will get deducted u/s 194I
| Originally posted by :Vincent | ||
| " | I suggest that u deduct TDS,since the nature of payment is rent and TDS has to be deducted under section 194I.also i am attaching a TDS calculator with this. | " |
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