06 April 2011
How will the revised threshold limit on TDS payments be calculated for FY 2010-11.??
I mean suppose if rent is paid @ 10,000 p.m for Apr-Jun and @ 15,000 p.m from Jul-Mar, how will the TDS limit per month be calculated for the FY 2010-11..??
That is will it be 15,000/- for the whole year or 10,000/-..??
06 April 2011
There is no such... TDS limit per month. Its only annual limit. so the annual limit is 180000/- for FY2010-11.
Only if you exceed payment of 120000/- till 30/6/2010, then only you need to deduct tax on that or otherwise you need to consider only 180000/- per annum as the limit.