john (LEARNER) (549 Points)
09 May 2010Mr.x runs a consultancy firm, his turn over of professional fee receipt is Rs.7,00,000/- for F.Y.2009-10,
Q-1) he pays office RENT of Rs.15000/- p.m., is TDS aplicable on such RENT. (7LAC TURNOVER NOT LIABLE TO AUDIT)
Q-2) he his not liable for service tax for F.Y.2009-10, Wt is service tax limit for F.Y.10-11
Devendra
(Chartered Accountant)
(4775 Points)
Replied 09 May 2010
1) Yes. TDS is applicable on the rent paid (15,000 x 12 = Rs. 1,80,000) ie. above the prescribed limit of Rs 1,20,000 p.a.
2) And the Service Tax limit is Turnover above Rs 10,00,000.
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