Tds on rent?
This query is : Resolved
07 April 2012
what tds to be deducted on rent payment of rs 250000? whether RS 25000 or (250000-180000)*.10 =Rs 7000.?
07 April 2012
Rs 25000 will be deducted.once the limit is crossed, the TDS will be deducted on whole of the amount
07 April 2012
Agree with Amit. If service tax is levied on such rent, it will not be considered for TDS deduction.
07 April 2012
Agree with CA Kishore but 2% TDS on Plant & machinery rent and on other case it is 10%
07 April 2012
if rent is paid for other than plant & machinery, furniture than TDS @10%, if rent is paid for Plant & machinery than TDS @2% on whole amount if that amount is excess of Rs. 180000. but remember that if assessee also pay service tax on rent than service tax amount are not lible to Tds means gross amount on which service tax charged are also liable for TDS.
So u require to pay tds on full amount as per nature of assets.
So u require to pay tds on full amount as per nature of assets.
07 April 2012
YES AGREE WITH ALL ABOVE..
TDS IS TO BE DEDUCTED TO WHOLE AMOUNT..
TDS ON PLANT & MACHINERY IS 2%.
TDS IS DEDUCTED EXCLUDING SERVIVE TAX.TDS ON RENT U/S 194 I..ONLY.
TDS IS TO BE DEDUCTED TO WHOLE AMOUNT..
TDS ON PLANT & MACHINERY IS 2%.
TDS IS DEDUCTED EXCLUDING SERVIVE TAX.TDS ON RENT U/S 194 I..ONLY.
09 April 2012
thanks sir... thanks to all of u..
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