TDS on Electricity, Food, Streaming Services & others

This query is : Resolved

Rahul Singh (Querist)
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07 February 2021 Hi, in proprietorship business do I have to deduct TDS on services like following?

- Electricity
- Office Maintenance
- Food for Employees from Restaurants
- Video Streaming like Netflix

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 February 2021 Electricity no TDS.
Office maintenance 194c TDS.
Food for employees 194c TDS.
Video streaming 194c TDS.
TDS applicable only if exceed threshold.

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Rahul Singh

Rahul Singh (Querist)
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09 February 2021 q. In 194C are there two different thresholds? Rs. 30,000 and Rs. 1,00,000
How does that work?

q. Do I have to deduct TDS on Car Insurance renewal?

q. I pay salaries to employees which have income less than rs. 5,00,000 per year. do I have to deduct TDS for them?

thanks

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 February 2021 In 194 c deduct TDS when single payment exceed 30000. No TDS upto 100000 when single payments are less than 30000. When payment exceed 1 lac deduct TDS for previous payments also.
No need for TDS obtain letter from them they opt for the new scheme of no tax upto 5lacs.

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Rahul Singh

Rahul Singh (Querist)
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09 February 2021 How do I know if they opt for no tax upto 5lacs?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 February 2021 Obtain option letter from the employees. Deduct TDS for those who has not given the option letter.

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Rahul Singh

Rahul Singh (Querist)
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10 February 2021 sir I think you missed one query. Do I have to deduct TDS on Car Insurance renewal?

Thanks!

CA R SEETHARAMAN