TDS u/s 194(I)

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CA Tarun Darjee (Querist)
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21 December 2010 whether an advance payment of Rs 400000 for 5 years rent, i.e Rs 80000 per year should be liable for deducting tax u/s 194 I

CA Manikandan.A.V

CA Manikandan.A.V (Expert)
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21 December 2010 TDS u/s 194 I need to be deducted if payment/credit made during the Financial year exceeds Rs. 1,80,000. It is not stated that the limit is per annum. So the amount of Rs. 4,00,000 is payable only after deduction of TDS @ 10% p.a. i.e, Rs.40000/-

CA Manikandan.A.V

CA Manikandan.A.V (Expert)
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21 December 2010 Visit this link. it may help you.

http://www.thehindubusinessline.com/2007/07/21/stories/2007072150220900.htm

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CA Manikandan.A.V

CA Manikandan.A.V (Expert)
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21 December 2010 If Advance rent is paid on or after 31.05.1994, it is subject to TDS. refer Circular No. 718/1995