Lady prop: tds on rent

TDS is required to be deducted by her only when the books of accounts of her  business are liable to be audited. She can declare net profit of 8% or more (if gross turnover is less than Rs. 60 lakhs) and escape the audit.

she gets liable to deduct TDS on rent when she get liable to get her books audited u/s 44AB in previous year, 

unless she is covered under tax audit, TDS deduction by her is not eligible

She will be liable to apply for TAN only when her books of account of the previous year had been audited U/s 44AB.

For FY 09-10 if she is covered under tax audit, TDS provisions are applicable to her for FY 10-11. If she doesnt have TAN, apply for it first and then remit the TDS amount......

She will have to apply for a TAN and make the payment u/s 194-I on the TAN recieved and then file the TDS Return.

Regards,

Devendra

She will have to apply for a TAN and make the payment u/s 194-I after receipt of TAN and then file the TDS Return.

I don know, why the Tax audit u/s 44AB arises? This issue is not relevant. She should deduct TDS even though her business not covered under 44AB

- Ashok