TDs Information

alpesh (Accountant) (25 Points)

25 June 2011

Dear sir,

i hava a rented shop n i will pay rent for shop of rs 85000/- per month,

i want to know TDS calculation

for example there is three owener of shop, how can i less deduct TDS,

can i show any part of rent as a mantence of shop???

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6 Replies

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
Replied 25 June 2011

Do not try tax evasion. Even maintenance will attract 2% or 1% tax deduction, Better you deduct 10% on rental pay outs.

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 25 June 2011

you will deduct tds @ 10% on whole amount

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 25 June 2011

further you can claim expenses on maintenance of shop which you have paid out of your pocket

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 25 June 2011

if you want to deduct tds at lesser rate than receiver will have to obtain certificate for lesser deduction of tds from department

Ninad Pandit (CA Final Student) (254 Points)
Replied 25 June 2011

u r liable to deduct tds only if u are subject to tax audit in the previous year... so, if u r doing job then u r not liable to deduct tds.

KIYOSH (TAX CONSULTANT) (332 Points)
Replied 25 June 2011

Originally posted by : Ninad Pandit
	u r liable to deduct tds only if u are subject to tax audit in the previous year... so, if u r doing job then u r not liable to deduct tds.

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