TDS on coducting fees

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Rohan (Querist)
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14 April 2011 whether TDS is applicable on conducting fees paid to a person ... the conducting agreement is for running a restaurant..a monthly lumpsum payment is made as conductin fees to the owner...whether TDS is applicable on such fees....if yes then whether u/s 194I @10% or contract @2%....

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 April 2011 Please tell the actual nature of transaction clearly. Who is the owner of restaurant and payment is made for what service and to whom. Owner of the restaurant is paying the fees for running the restaurant or person running the restaurant is paying to the owner.

Rohan

Rohan (Querist)
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14 April 2011 person running the restautant is paying to the owner..

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 April 2011 Then Sec 194I will apply.
Rate of TDS 10%
Threshold limit Rs 180000/- p.a.