Atul h Kaulwar (Article) (91 Points)
04 February 2010Our company office is situated in a building where the ground floor is reserved for Pay and Park by Corporation,
we have to pay Rs. 35,000/- per month to Corporation (cheque is to be issued in the name of Individual Contractor of Corporation).
Wheter the payment attract
1 TDS on Rent,or
2 TCS on Parking lots, or
3 None of them.
Amir
(Learner)
(4016 Points)
Replied 04 February 2010
Dear Atul,
The question of TCS doesnot arise since ur Co, is making payment whereas TCS is to be collected at the time of receipt.
As per Sec 196, No need to deduct TDS on payment to Corporation setup by CG or which are exempt from tax.
Therefore if it is not falling in above, then TDS has to be deducted.
Alok Bansod
(Accounts executiv)
(135 Points)
Replied 07 February 2010
I agree with Amir, if tcs is not applicable, since parking payment is done to contractor, tds on contractor is applicable or if payment is like rent, rent on tds is applicable.
Chintan Shah
(-)
(534 Points)
Replied 07 February 2010
I agree with alok..If payment is in the nature of rent, TDS on rent is applicable
dineshkumar
(B.Com)
(32 Points)
Replied 13 June 2023
My client run a Cinema theatre - and colloct Parking Fees - Its applicable for TCS or not .
CAclubindia
