TDS

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santhosh (Querist)
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30 September 2010 An Individual income exceeded Rs.65 lakhs first year (FY 2009-10). He has deducted tds few parties and filed the etds returns on 01.08.10.

He has not deducted TDS for rent and other professional fee.

1.My question is whether he need to deduct tds and do revised e-tds return.

a) If not please provide section / notification.

b).If not expenses will be disallowed

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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30 September 2010 In case if individaul TDS is not be deducted while making payment for rent and professional charges u/s 194I & 194J

santhosh

santhosh (Querist)
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01 October 2010
An Individual income exceeded Rs. 65 lakhs first year (FY 2009-10). He has deducted tds few parties and filed the etds returns on 01.08.10.

He has not deducted TDS for rent and other professional fee.

1.My question is whether he need to deduct tds and do revised e-tds return.

a) If not please provide section / notification.

b).If not expenses will be disallowed

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TARUN DHINGRA

TARUN DHINGRA (Expert)
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01 October 2010 First of all, you have not mentioned the f.y. for which the expenses are pertaining. hence I am taking both years.

In this case, individual is required to get his a/c audited during the f.y.2009-10. Hence
year wise tds liability status is given as below:-

F.Y. 2009-10
-No Liability if no tax audit required .

F.Y. 2010-11
-liablity of Rent expenses- U/s 194I
-liability of Professional fee- u/s 194J

You have to deduct the tds accordingly with interest and to revise the return also.