what is the treatment of rent paid more than 10000rs.

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what is the treatment of rent paid more than 10000rs...

Answer / rajesh

If we are paying Rent morethan 10,000 /-. PM we are liable
to deduct the TDS u/s 194 I

1)Paying to induvidual - TDs-15% & SC -10% & Cess -3%
(if income crossess more than 10,00,000 we have to
deduct Surcharge unless no need of deduct Surcharge for
induvidual)

2)Paying to Company - TDS -20% & SC-10%,& Cess-3%

We have remit the TDS on or before 7th every month. and E-
TDS to be filled quarterly on or before 15Th

Is This Answer Correct ?    11 Yes 0 No

what is the treatment of rent paid more than 10000rs...

Answer / sandeep

current rate (after 01.09.09) are as below:

Rate of TDS for Rent paid for other than plant and
machinery (both case i.e company or individuals/huf) is @
flat 10% whereas in onther case TDS rate is flat 2%.

Is This Answer Correct ?    2 Yes 0 No

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