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TDS clarification for rental?

S.Prasanna (Financial consultant) (90 Points)

09 February 2022

Rental for furnitures and fixtures& Fittings Taxable TDS applicable.ad per sec 194I.Limit per annum 240000/- must dedect for TDS.But,Single bill 30000/- above applicable for rental TDS or Not?

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5 Replies

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 09 February 2022

If it's exceeds 2.4lacs then only you need to deduct Tds.There is no single payment concept in 194I for tax audit cases.

For non tax audit cases only 50k single payment limit per month is applicable

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S.Prasanna (Financial consultant) (90 Points)
Replied 09 February 2022

Thank you very much sir.

sabyasachi mukherjee (27711 Points)
Replied 09 February 2022

It's advisable if the single contract exceeds Rs.2.4 lacs otherwise not.There are other conditions like if the same agency enters in many different contract under different orders, then it is also required.

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