what is 194i&94i
3 Replies
Gaurav Jain
(CA)
(950 Points)
Replied 25 April 2013
It seems that you ae asking about TDS return.Then these both are same.
Apart , 194J is the provision to deduct tax at 10 % on fees for professional or technical servioces , royalty or director fees.
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CA Gaurav Jain
# 99507-55538
CA NITIN AGRAWAL
(Chartered Accountant)
(168 Points)
Replied 25 April 2013
194i is the section of income tax for deducting TDS on rent
Ritika Pundir
(CA)
(154 Points)
Replied 25 April 2013
They both are the same, though used diferently. 194I is the section governing TDS on rent @ 10% or 2% as applicable whereas 94I is the code written in the TDS deducted on rent in the TDS return.
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