Tds - urgent
riddhi (student) (746 Points)
15 June 2017
CA Mayur Todmal
(Practicing CA)
(7756 Points)
Replied 15 June 2017
The Finance Bill, 2017 proposes to insert new section 194-IB to provide that an Individual or a HUF (other than those covered under clause (a) 85 (b) of section 44AB of the Act), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of month during the previous year, shall deduct an amount equal to five per cent. of such income as income-tax thereon. -
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 15 June 2017
Personal, commercial whatever both it's attract.......
rama krishnan
(12239 Points)
Replied 15 June 2017
Girish Momaya
(Tax consultant)
(43 Points)
Replied 16 June 2017
Effective from 1st June 2017, individuals & HUF not covered under tax audit would be subjected to TDS for rent payments if it is Rs. 50,000 or more per month.
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