Tds deduction

This query is : Resolved

vipin rastogi (Querist)
Follow

12 March 2013 Dear Sir,
I have a proprietorship firm having TAN No. also . We are paying rent of Rs. 15000 p.m but didn't deduct TDS on any payment till the month February.
Could i deduct TDS on the rent due for the month of March on whole amount i.e on 15000 X 12= 180000 @ 10 % = 18000.

Whether i have to deposit that TDS amount with interest or simply TDS amount of Rs. 18000 by or before 7 April.

Thanks in Advance

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

12 March 2013 TDS not required to be deducted since threshold limit of Rs 1.80 Lacs p.a. is not crossed. If the amount crosses more than 1.80 Lacs then TDS required to be deducted on entire amount.