12 July 2010
A company hires machinery for 3 months @ Rs.20000 per month. Say, base limit for TDS applicability on machinery is 120000 pa. Is the co. liable to deduct TDS while paying at the end of 1st month?
12 July 2010
If at the time of paying first months rent u know u will only need it for 3 months then TDS not dedcutible. If not sure at that time then TDS deductible as annual payment likely to cross the exemption limit.