Hi friends,
I am running a Housing loan DSA and few of my friends doing their business through my DSA and after getting commission (after TDS) i have to give their part of commission. Now, my question is as a proprietor of the DSA is it necessary to deduct tax at the time of their payment i.e., commission, if so please tell me @ what rate i should deduct the tax and what is the ceiling amount for TDS.
Thanks & Regards,
Raman
Bangalore
From India, Bangalore
I am running a Housing loan DSA and few of my friends doing their business through my DSA and after getting commission (after TDS) i have to give their part of commission. Now, my question is as a proprietor of the DSA is it necessary to deduct tax at the time of their payment i.e., commission, if so please tell me @ what rate i should deduct the tax and what is the ceiling amount for TDS.
Thanks & Regards,
Raman
Bangalore
From India, Bangalore
Dear Suba
Please refer the below details , hope will serve your purpose.
if its realted to Rent.its falls under 194i Rent Property so upto Rs 180000/-no tds to be deducted.if its more than Rs 180000/-than 10% tds is to be deducted on total amount & same is to be deposited on 7th of next month.
if its commission /Brokerage its falls under 194h & upto Rs 5000/- no tds is to be deducted if its more than Rs 5000/-than 10% tds is to be deducted on total amount & same is to be deposited on 7th of next month
From India, Jamnagar
Please refer the below details , hope will serve your purpose.
if its realted to Rent.its falls under 194i Rent Property so upto Rs 180000/-no tds to be deducted.if its more than Rs 180000/-than 10% tds is to be deducted on total amount & same is to be deposited on 7th of next month.
if its commission /Brokerage its falls under 194h & upto Rs 5000/- no tds is to be deducted if its more than Rs 5000/-than 10% tds is to be deducted on total amount & same is to be deposited on 7th of next month
From India, Jamnagar
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