TDS On rent (194I)
This query is : Resolved
30 March 2009
i have bills from my creditors towards factory rent for rs. 96000 + 24000 = 120000/- for the financial year 2007-08 then tds is deductable under section 194i
30 March 2009
No, Because is limit is Rs. 120000/- for full year. If it exceeds Rs. 120000/- then TDS applicable
30 March 2009
No, TDS shall be deducted on rent payment over Rs. 120000 p.a.
30 March 2009
i support the experts
30 March 2009
I am also agree with Experts.
31 March 2009
Rent paid in excess of Rs.1,20,000/- PA to a single vendor will attract TDS...in your case amount is not exceeding Rs.1,20,000/- hence not taxable...you have said Rs.96,000/- & Rs.24,000/- paid to creditors... please mention whether it is for a single / multiple Vendor and whether the amount mentioned is for PA or PM...
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