Mr. A hire a open land From Mr. B for 1 month. mr. B chrged Rent Rs 175000.
So Mr. A deduct TDS in the Payment of Mr.B if yes Than What is the percentage?
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Tds
Replies (4)
10%.. But threshold limit is 180000 on rent
Sec194(I): tds @ 10% if the rent paid exceeds rs 180000 then tds on whole of such amt is to be deducted
Dear shehbaz,
Threshold limit for hireing equipments is Rs. 180000 per year.
Before deducting TDS on hire charges, deduct-er has Tax audit his books of accounts in previous year, than only he eligible for deducting TDS on hire charges.
u/s 194 i not applicable bcoz rent is <180,000
so dosen,t matter of tds 2nd matter percentage is 10% ok
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