19 May 2011
Dear All, I am going to paid on 19/05/2011 to a proprietorship firm for hoarding rent (Advertisement) @ 8000/- per month from April 10 to March 2011. Total bill 96,000/- What Amount of TDS we should deduct and what interest will charge?
19 May 2011
There wont be any TDS on the same as you are paying for the rent of the hoarding space and the same shall be in the form of rent for the payee. So, TDS is required u/s 194I but as the payment is under the limit i.e. 180000, no TDS is required.
19 May 2011
In this case, it shall be categorised under advertisement services. Tax is to be deducted u/s 194. Rates-- 1% if the payee is individual or HUF 2% if the payee is other than individual or HUF.
CAclubindia
