Hello sir,
pls let me know , if business not covered under tax audit , and paying office rent above limit ,so have to deduct tds or not ??
No.
3 Replies
Musrath Shaik
(175 Points)
Replied 07 December 2023
In many countries, the requirement to deduct TDS (Tax Deducted at Source) on rent payments depends on various factors, including the nature of the payer and payee, the amount of rent, and the applicable tax laws. Here are a few general points to consider:
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Applicability of TDS on Rent: In some jurisdictions, TDS on rent is applicable if the rent paid exceeds a specified threshold. This threshold can vary, and it's essential to determine whether your rent payments fall above or below this limit.
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Business Covered Under Tax Audit: Even if a business is not subject to a tax audit, it may still be required to deduct TDS on certain payments, such as rent, if the applicable threshold is crossed.
For further more detailed information on this topic visit: CBDT: No TDS on GST Component
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