Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 October 2013 1)Sect 194C.
My Client bill three bills as diff date 1) 35000 2) 25000 3)17000
(in 1st bill i deducted 1%) but other bill how many tds deduct. bec this amt exceed limit Rs 75000)

2) Sect 19LAA

Buy Property
In this sect when TDS deducted. if payment by installment in 10 yrs

3) Section 194I.

I paid rent more then 180,000 (Rs 250,000)
but property owner is two. Is tds deduct on this case
bec limit Rs 180,000 is one owner. i confused.

Nitesh Parmar

Nitesh Parmar (Expert)
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18 October 2013 under 194C Rate is Same 1%. the limit is for taxation purpose not for rate purpose.

and in section 194I if payment to one party exceeds Rs. 180000 then required to deduct tax.

Querist : Anonymous

Querist : Anonymous (Querist)

18 October 2013 I know 1% on 194c but i have deduct 1% of remaining two bills bec its limit exceed Rs 75000, so, what total amt deduct in total bills,

thank u for solve 194i

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Querist : Anonymous

Querist : Anonymous (Querist)

18 October 2013 I know 1% on 194c but i have deduct 1% of remaining two bills bec its limit exceed Rs 75000, so, what total amt deduct in total bills,

thank u for solve 194i

CA Pallav Singhania

CA Pallav Singhania (Expert)
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18 October 2013 {i} TDS u/s 194C is required to be made as per following: if single payment towards a bill exceeds Rs 30K or if aggregate payments against towards bills exceeds Rs. 75000.
In your case the single bill does not exceeds Rs 30K, so TDS need not be made now.

However when the aggregrate bills exceeds 75K during the F.Y. then TDS needs to made on the whole of the bills issued till that date.

{ii} In case of installment system of payment, TDS is required to be deducted on all such installments individually which fall due after 1st June, 2013 but only on principal portion and not on the interest or penalty portion.

{iii} No TDS U/S 194-I on Rent to Co-owners if Below the Limit.
Where the property belongs to more than one person, the tenant shall apply the TDS provisions only in case the payment of rent to each co-owner exceeds the prescribed limit...

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 Mai rent paid kar rahau us property two jonint owner hai (Hus & Wife) so, limit is consider of each Rs 180,000/- ya Rs 360,0000

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 Section 194 c:

but sirje, mane contrat liya tha 1st jisme Rs 35000 bill bana. to mane us me 1% tds (194c)katke payment kar diya. but after muzu aur need thi jisly mane aur new 2 contract liye, so total 3 contract liye jise limit Rs 75000 bad gay (assume 3 contratct 80,000) so, mai kitna katu tds. i think 35000 maine pelase kat liya hai. so after 45000 mai katu ky.pls suggest

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CA Pallav Singhania

CA Pallav Singhania (Expert)
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19 October 2013 For each 180000

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