CA rahul (BCOM(H) ACA) (725 Points)
26 February 2014.Suppose is making paymet say rs 10,000 p.m and after a few month due to revision in rent the payment exceed 1,80,000 in the month of sep and suppose company deducted TDS in the month of December then tds @ 1% shall be applicable from the day, the limit Exceed Rs 1,80,000
Shadab Shaikh
(Working at CCPL)
(81 Points)
Replied 26 February 2014
It is applicable when tds limit u/s 194 (I) exceeds Rs. 1,80,000/-.
CA Kumar Ajay
(Following My Dreams)
(228 Points)
Replied 26 February 2014
Tds Shall Be On All Amounts Paid Till Date.
For Example You Have Paid Rs. 175000 Till Date
And Next payment Is Rs. 30000
Then TDS Will Be Deducted On Rs. 205000
And Amoutn of TDS Shall Be Deducted From the Payment Of Rs. 30000
More Over There Is No TDS RENT Rate of 1%
Its
10% For Land/Building
2% For P&M
Regards
CA. Kumar Ajay
cakumarajay @ hotmail.com
CAclubindia
