TDS AY 2011-12

Rajat (Student) (52 Points)

09 March 2011  

As we know that the threshold limits for TDS for AY 11-12 have been increased, so what would be the calculation of TDS in the following case:-

The rent for building for the year accrued upto 30.06.2010 is Rs.1,30,000 and further upto 31.03.2011 is Rs.1,70,000 (incl. Rs.1,30,000 of june). So what would be the amount deducted us 194I?

Is deduction of (130000*10%) Rs.13,000 for the whole year correct because on 31.03.2011 the amount accrued does not exceed the limit i.e. Rs.1,70,000?

If not, what is the correct calculation?