Webb3 maj 2024 · It imposes an obligation for TDS deduction on persons (other than individual/HUF) making rental payments to resident Indians above a specified limit, i.e., Rs.2,40,000 in a year. The rent under this section … Webb11 feb. 2024 · The threshold limit for deduction of TDS on payment made towards Job Work Charges is as follows: Payment should not exceed 30,000 in case of a single transaction and; Aggregate payments made during …
TDS under Section 194I Or Section 194C for Car hiring charges?
Webb19 juli 2024 · As per section 194-I dealing with deduction of tax at source from payment of rent, the rate of TDS applicable is 1.5% for machinery hire charges and 7.5% for … Webb6 juni 2009 · After an amendment in 2007 in section 194I, rent on plant, machinery or equipment is subject to TDS at the rate of 10%. Therefore, crane hire charges is subject to TDS under section 194I. 2 Dated: 8-6-2009 By:- Sanjeev Kinger It is not clear from querry that whether you have hired a crane or you have entred in contact. kitchen manager daily checklist
Tds on tractor hire charges [Resolved] Income Tax - CAclubindia
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. The Finance Act, 1994 inserted the Section 194I, regarding deduction of tax while paying rent. The government introduced the … Visa mer Webb29 mars 2024 · Only if the payment exceeds the prescribed limit, then TDS provisions will be applicable. For example, as per the provisions of Section 194J, no TDS required to be deducted if payment of professional fees do not exceed Rs, 30,000/-. So, here the threshold limit is Rs. 30,000 and TDS needs to be deducted only if it exceeds 30,000. kitchen mama yes you can can opener