Applicability of tds
This query is : Resolved
28 January 2014
ABC LTD. paying salary of Rs. 12 laks to one of their director and in addition company also paid rent of Rs. 1 lakh p.a.
company deducted TDS on salary but not on Rent
please tell is company right in doing so?
in the above case contention of the assessing officer is that TDS was to be deducted on rent payment since Salary was in tax bracket?
company deducted TDS on salary but not on Rent
please tell is company right in doing so?
in the above case contention of the assessing officer is that TDS was to be deducted on rent payment since Salary was in tax bracket?
28 January 2014
Hi
Have you taken any property on rent from him? If yes then:
Salary wud be subject to 192B & rent payment would be subject to 194I limit.
Make sure you have separate agreement for the rent payment.
If no property is taken on rent then amount paid will be taxable u/s 192B.
Thx
Have you taken any property on rent from him? If yes then:
Salary wud be subject to 192B & rent payment would be subject to 194I limit.
Make sure you have separate agreement for the rent payment.
If no property is taken on rent then amount paid will be taxable u/s 192B.
Thx
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28 January 2014
yes different property was taken on rent under separate rent agreement
is tds applicable on rent payment(Rs. 1,80,000) ?
is tds applicable on rent payment(Rs. 1,80,000) ?
28 January 2014
No TDS is applicable.
Thx
Thx
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