Will amount paid to a Building Trust as a Hall Rent attract TDS U/s 194I ??
Hall is taken for Meeting purpose.
Gajanan Asha Vilas Badve (service) (47 Points)
30 May 2008
Will amount paid to a Building Trust as a Hall Rent attract TDS U/s 194I ??
Hall is taken for Meeting purpose.
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 30 May 2008
If the amount of rent Exceed Rs. 120000/- per annum then TDS is applicable u/s. 194I, TDS is 15% plus 3% ED
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 30 May 2008
If you have hired it based on a contract period say one year, then TDS has to be deducted u/s.194J. If you have hired it in the normal course, say for a day or two for conducting any meeting or conference, then TDS should be deducted u/s.194C.
Deepak
(Chartered accountant)
(111 Points)
Replied 30 May 2008
If hall is taken on rent on REGULAR basis then only TDS get attracted.
One paymen for meeting arrangement in a hall booked will not be liable to TDS.
AMIT DOSHI
(CHARTERED ACCOUNTANT)
(74 Points)
Replied 30 May 2008
yes shall be subject to tds u/s 194I
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