Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2011
While making a payment of lease rent of Rs. 445500 for 99 years, should we deduct TDS u/s 194I?
18 August 2011
Yes. TDS should be deducted u/s 194I @ 10%.
18 August 2011
The tax is to be deducted from the payment or credit which ever is earlier. in this query since payment is happening in year one, technically speaking TDS should be deducted. However, if the amount is made a refundable advance there is no need for TDS.
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