Tds applicable on partnership firm
This query is : Resolved
14 May 2016
I open a gym at new delhi. I am paying a rent to the owner Rs. 50000/- p.m.
1. Can i deduct TDS from day one.
2. If not , when is applicable.
3. What is the Rate of TDS.
Regards
1. Can i deduct TDS from day one.
2. If not , when is applicable.
3. What is the Rate of TDS.
Regards
14 May 2016
you can deduct tds @ 10%
14 May 2016
Though the rent paid by you exceeds the limit of Rs. 180000/- under section 194I, as an individual you are liable to deduct tax only if your gross receipts or turnover exceeded Rs. 1 crore in immediately preceding financial year.
14 May 2016
1. Yes you have to deduct the TDS
2. Start deducting from first payment.
3. TDS 10% U/s 194 I
Dear Experts read the query carefully and Reply complete query.
Question is regarding Partnership Firm, whether firm is liable for audit or not liable, but if it liable to deduct the TDS it is mandatory to deduct.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
2. Start deducting from first payment.
3. TDS 10% U/s 194 I
Dear Experts read the query carefully and Reply complete query.
Question is regarding Partnership Firm, whether firm is liable for audit or not liable, but if it liable to deduct the TDS it is mandatory to deduct.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
