APPLICABILITY OF T.D.S U/S 194-I

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2010 One of my client has two units of Partnership firm. Rent is being paid in One Unit = Rs.100000 and in other one also Rs.100000. Books are being prepared separately. Please clarify whether T.D.S u/s 194-I is to be deducted or not.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 March 2010 TDS HAS TO BE DEDUCTED U/S194I AS THE PAN OF TWO UNITS MUST BE SAME.
SOURCE OF INCOME UNDER THAT PAN IS RS.200000/- AND HENCE TDS TO BE DEDUCTED ON RS.200000/- U/S194I AT PRESCRIBED RATE.

REGARDS

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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17 March 2010 paid more then Rs. 1,20,000/- in one year to one firm attract sec. 194I

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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17 March 2010 TDS Rules is stick to Amount not any specific field in that means your payment of rent is over Rs.1,20,000/- so as per u/s 194I TDS applicable.