Jyoti Malik (ACCOUNTANT) (2644 Points)
15 January 2011A company hire 5 Airconditioners on rent and paying Rs. 7000/- Qtrly. Is any requirement of TDS deduction?
What is the maximum limit of amount on which TDS should be deducted in above case and at what rate????????????
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 15 January 2011
TDS not applicable up to 180000 P.A. on rant
Pankaj Arora
(Learner)
(3134 Points)
Replied 15 January 2011
Yes tds have to be deduct u/s194I Rent of Machinery @ 2 % if the annual rent of machine crossed to 1,80,000/-. Its not applicable in your case because limit did not crosses 1,80,000/- per annum
Jyoti Malik
(ACCOUNTANT)
(2644 Points)
Replied 15 January 2011
The limit of Rs. 1,80,000 is on rental premises only .
Is on machines the same limit applicable?
CA ESHAN CHAKRAWARTI
(job)
(101 Points)
Replied 15 January 2011
for plant / machinery& equipments limit is 180000 @ 2% & for others 180000 @ 10%.
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