Tds

RAKESH KUMAR BEHERA (STUDENT) (185 Points)

03 February 2017

I am doing a Trading Business

My Turnover is More Than 1Cr

I have Shop on Rent Monthly Rs.2000/-

Is it Compulsory to Deduct TDS on Rent Paid.

Reply
Follow
Share

5 Replies

Nikhil Sharma (Government Service) (539 Points)
Replied 03 February 2017

No, you are not required to deduct tds. As per section 194I tds on rent is deductible only if total rent paid during the year exceeds 180000/-.

manoj (student) (5205 Points)
Replied 03 February 2017

Agree with Nikhil

RAKESH KUMAR BEHERA (STUDENT) (185 Points)
Replied 04 February 2017

Sorry, i am paying rent 20,000/-monthly

Nikhil Sharma (Government Service) (539 Points)
Replied 04 February 2017

Then you have to deduct tds @ 10%

Baljeet Singh (CA, B.Com (H)) (954 Points)
Replied 06 February 2017

You have to deduct TDS @ 10% u/s 194I, this should bo on amount exclusive of service tax(if any).

Start a New Discussion