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Tds by trusts

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(Querist)
24 March 2015 THE TRUST IS AN EDUCATION SOCIETY WHICH HAVE MANY SECTIONS UNDER IT(PRIMARY, SECONDARY, COLLEGE,ETC.)

IS THE TRUST LIABLE TO DEDUCT TDS U/S 1941 ON THE RENT PAID (FOR THE SCHOOL PREMISES) BY ITS SECTION TO A THIRD PARTY IF THE AMOUNT OF RENT EXCEEDS RS.180000 P.A.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
24 March 2015 Yes.Trust is liable to deduct TDS on rent u/s 194I @10%. If PAN not provided then TDS to be deducted@20%.
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P B IYER

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P B IYER (Querist)
24 March 2015 For the fy 13-14, if trust had not deducted TDS on rent of Rs. 300000 paid to outsider , what are the consequences???
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Rupesh Jain

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Rupesh Jain (Expert)
24 March 2015 after notice recd. you have to deposit the tds with intt. and file tds return.
for that every officer will in consider in default.

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