TDS

This query is : Resolved

Shivani (Querist)
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09 May 2010 Mr.x runs a consultancy firm, his turn over of professional fee receipt is Rs.7,00,000/- for F.Y.2009-10,

Q-1) he pays office RENT of Rs.15000/- p.m., is TDS aplicable on such RENT. (7LAC TURNOVER NOT LIABLE TO AUDIT)

Q-2) he his not liable for service tax for F.Y.2009-10, Wt is service tax limit for F.Y.10-11

Ram Avtar Singh

Ram Avtar Singh (Expert)
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09 May 2010 TDS on rent Expempt in 2010-2011 up to 180000/= so no tds in this year

Service tax exempt limit 10 lakh so no service tax applicable.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 May 2010 AGREE WITH EXPERT

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Krishan

Krishan (Expert)
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10 May 2010 I think TDS is to be deducted on Rent...
As limit of Rs. 180000 will be applicable from 1 july 2010.

and for FY 09-10 limit was Rs. 120000. and also the Turnover limit of Rs. 700000 would be beneficial for Individual / HUF, not for a FIRM..