Suhas Deshmukh (Manager Finance & Accounts) (132 Points)
01 March 2022Dear Sir
We have booked one rent invoice in March 2021, at that time TDS U/s 194I rate was 7.5% . But actual payment was done in May 2021. TDS rate u/s 194I revised w.e.f. 1-Apr-2022 to 10%. In this case should we deduct balance TDS 2.5% while making payment?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177869 Points)
Replied 01 March 2022
No. provided late fees for 3 months are paid..
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 01 March 2022
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 01 March 2022
10%
TDS rates- the TDS rate 10% in case of 194-I, and 5% for TDS under Section 194-IB. Exemption limit– the minimum exemption limit is Rs. 1.8 lakh per annum for section 194-I, and Rs. 50,000 per month for section 194-IB
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 02 March 2022
CAclubindia
