Tds on payment of rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2012
Dear expert,
One of my client has started the business of trading of ceramic tiles. For that purpose, he has taken a shop on rent and monthly rent is 40000/-. As the business is new and there is no prediction can be made that turnover of the firm would be above the audit limit or below the limit. Here I would like to know that whether he should obtain TAN and deduct TDS on payment of rent or not.
Please advise me.
One of my client has started the business of trading of ceramic tiles. For that purpose, he has taken a shop on rent and monthly rent is 40000/-. As the business is new and there is no prediction can be made that turnover of the firm would be above the audit limit or below the limit. Here I would like to know that whether he should obtain TAN and deduct TDS on payment of rent or not.
Please advise me.
29 May 2012
If it can be estimated that tax audit may come in the coming year then it is better to apply for TAN and deduct the TDS.other wise unnecessary you have to pay TDS along with Interest.
29 May 2012
AS PER YOUR QUESTION AS YOU SAY THAT,THERE IS NO PREDICTION OF TURNOVER WILL BE INCREASE AS REQUIRE FOR TAX AUDIT.AS BUSINESS IN NEW.
NO NEED TO APPLY FOR TAN NO...
BUT FOLLOWING SAFE SIDE YOU SHOULD APPLY FOR TAN NO.TO AVOID INTEREST.
NO NEED TO APPLY FOR TAN NO...
BUT FOLLOWING SAFE SIDE YOU SHOULD APPLY FOR TAN NO.TO AVOID INTEREST.
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
