TDS on Rent

12 September 2018

if a shop is in under audit, and paying rent 30000/- pm but not by chaque by cash only than their is any need to deduct tds in that case pls sugges.

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 12 September 2018

Tds deductible. But, the said expenses disallowed under it act as Cash payment exceeding 10k...

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Sharda Vishwakarkma (82 Points)
Replied 12 September 2018

yes that is.confusion thet the amt is more than 10k in cash so whether tds is deductable or not.
thank you.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 12 September 2018

TDS deductible is must as its your liabilities. So, Deduct TDS.

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Mohak (student) (54 Points)
Replied 12 September 2018

TDS is deducted under section 194 I on payment basis and not on mode of payment. hence tds is deducted at 10% in this case

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Ankesh Mishra (Accounts Assistant) (28 Points)
Replied 12 September 2018

make partial payment to landowner i.e 10,000×3
and deduct TDS when payment cross 1,80,000

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 12 September 2018

It's not applicable.. .. ..

rama krishnan (12239 Points)
Replied 12 September 2018

if rent is paid in cash, sec 40A(3) attracts, and if TDS not deducted sec 40a(ia) attracts

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