26 May 2012
I HAD PAID THE RENT OF RS 20000 PER MONTH OF FACTORY DO I HAVE TO COMPULSORILY DEDUCT THE TDS. AS I DONT HAVE THE TIN NO. THEN HOW CAN I DO:
26 May 2012
If the payer is an individual income tax is to be deducted on rent only if he/she is covered under tax audit u/s 44AB of the Income tax Act,1961. On the other hand, if the status of the payer is other than 'individual', tax has of be deducted u/s 194I of the said act.
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