04 March 2009
I am running a proprietor concern and my business is providing Staff House to the corporates. i would like to know in which category i will be coming for TDS deduction whether u/s 194C as a contractor or u/s 194 i and in the u/s 194 i there is "Payment of Rent for Building & Furniture whose gross receipts are less than 40 Lakhs in a financial year are not required to deduct TDS” do a proprietor concern comes under the category of Individual because my last year transaction hasn't crossed even 10 Lakhs.
04 March 2009
Yes if your transactions are below 40LKHS the limit for TAX Audit u/s 44AB & your's is a proprietory concern you may not deduct TDS I hope Shiyaz YOu are aware that you will fall under Service Tax, So pls do the needful for that
05 March 2009
I am running a proprietor concern and my business is providing Staff House to the corporates. i would like to know in which category i will be coming for TDS deduction whether u/s 194C as a contractor or u/s 194 i and in the u/s 194 i there is "Payment of Rent for Building & Furniture whose gross receipts are less than 40 Lakhs in a financial year are not required to deduct TDS” do a proprietor concern comes under the category of Individual because my last year transaction hasn't crossed even 10 Lakhs Please explain me in detail as i have to submit your reply to the company along with the section details to prove we are right.
CAclubindia
