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Shop rent tds

ABHI KUMAR (679 Points)

25 December 2020

turnover 1.5 cr shop rent 2.56 lac per year tds appliclibilty yes or not?????

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 25 December 2020

Section 194i is applicable

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ABHI KUMAR (679 Points)
Replied 25 December 2020

Ok thanks sir

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 25 December 2020

Welcome

Krishna Chaudhary (Accountant) (4531 Points)
Replied 26 December 2020

TDS on rent is applied under section 194 I
provisions are like
if you are liable for audit in previous year then you are liable to deduct tax.
if you were not liable for audit in previous year then no need to deduct tax.
PY for audit here is 2018-19. so if you were liable for audit in previous year 2018-19, then only you have to deduct TDS otherwise no req.

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