WebbThis payment or monetary exchange should not exceed the limit of ₹30,000 at any given time. Should the payment amount exceed ₹75,000 over the course of a financial year, it will be the client’s or payer’s responsibility to deduct a taxable fee from the total sum, as should be followed in case of the advance payment exceeding ₹30,000 as well. Webb26 apr. 2024 · The AO during the assessment proceedings found that the assessee has incurred car hiring charges amounting to ₹ 1,21,775/- which was subject to the …
Tds for commercial equipment hire charges - CAclubindia
Webb8 dec. 2024 · As per the provisions of section 194I of the Income Tax Act TDS deduction is not applicable if the amount of such rental income or the aggregate of the amounts of such income is less than Rs 2,40,000. The limit includes any amount credited or paid or likely to be credited or paid during the financial year by the owner to the account of the payee. Webb30 okt. 2008 · WHEN COMPANY IS USING BUS FACILITY TO BRING EMPLOYEES TO FACTORY THE BUS IS HIRED BY THE COMPANY AT WHAT RATE TDS SHOULD BE DEDUCTED ON THE ... 31 October 2008 The section 194 I is related with the rental /hire charges payment which was limited to land & building rental till 13th July 2006 but … pearl harbor attack animated
Car hiring charges – TDS under Section 194I Or Section 194C?
Webb19 juli 2011 · TDS on JCB Hire Charges. 19 July 2011 Please clarify, Whether TDS to be deducted on JCB Hire charges U/s 194I @ 10% or @ 2%. 19 July 2011 TDS to be deducted u/s 194I @ 2%. i.e. TDS on Rent of Plant & Machinery. You need to be the querist or approved CAclub expert to take part in this query . WebbAs per Section 194IB, individuals and HUF not covered under tax audits and paying rent that exceeds ` 50,000 per month are liable to deduct and pay tax (TDS) OR As per Section 194I, persons, other than those mentioned above, paying a total rent of more than ` 2,40,000 in a financial year are liable to deduct and pay tax (TDS) Webb23 mars 2024 · As per TDS on rent - Section 194IB, the limit still stands as per the annual rent amount of more than Rs.2,40,000. So, the taxpayer needs not to pay the tax if calculated individually for each property in such cases but is liable to deduct TDS on rent if the amount exceeds Rs.2,40,000 when summed up. lightweight car seat newborn