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TDS for Commission to Property Agent?

deepak Gupta (Chartered Accountant) (150 Points)

20 July 2009

If a person pay commission to Property agent , shall he liable to deduct TDS on it or not?

If yes what is the maximum limit for this?

and please also refer the concerned section?

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3 Replies

deepak Gupta (Chartered Accountant) (150 Points)
Replied 20 July 2009

Originally posted by :deepak
"	If a person pay commission to Property agent , shall he liable to deduct TDS on it or not? If yes what is the maximum limit for this? and please also refer the concerned section?	"

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CA CS CIMA Prakash Somani (Landmark Group) (23502 Points)
Replied 20 July 2009

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Abhishek Mohta (ACON) (508 Points)
Replied 21 July 2009

Commission paid to a property agent is liable to TDS U/s 194C as the agent though is rendering professional services but this profession is not prescribed by the Board. Thus the service rendered by the agent will be a contractual service to his client.

The minimum amount threshold for the same is 20000 for a single bill or 50000 for the entire year. TDS has to be deducted @ 2% if the any of the conditions is exceeded.