Please clearify the Deduction under which saction & on which amount for following:
MOU between Proprietory Firm & Pvt. ltd. Company. proprietory firm charge monthly consideration Rs.70000/- as follows: 1. office Rent Chargs Rs.5000/- 2. Electrical consumption Charges Rs. 10000/- & 3. Other office equipments & Service Charges Rs.10000/- (Include Messenger, Peon, Tea & Coffee, Fax, xeriox, Broadband Internat, Epabx System and Telephone Line)
Please clearify the Deduction under which saction & on which amount for following:
MOU between Proprietory Firm & Pvt. ltd. Company. proprietory firm charge monthly consideration Rs.70000/- as follows: 1. office Rent Chargs Rs.50,000/- 2. Electrical consumption Charges Rs. 10,000/- & 3. Other office equipments & Service Charges Rs.10,000/- (Include Messenger, Peon, Tea & Coffee, Fax, xeriox, Broadband Internat, Epabx System and Telephone Line)
Firm issued Debit Note to Company for Rs.70,000/- as Charges for use of A. Office Space, B. Air conditioner, C. Telephone (With Operator), D. Electricity, E. Messenger etc.
1. for the rent since the amount is exceeding Rs.120000/- P.a. tds is deductible U/s.194I @ 15% and sc & ec
2. for the services the tds is need to be deducted under sec194C @ 2%+sc+ec on the net amount i.e. excluding the service tax.
3. the question was not so clear If this answer does not clear you doubt please ask properly with appropriate informatiuon.
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