30,000 are not liable to TDS, except the director’s fees, where no such limit is applicable. 3. TDS on rent payments under section 194I Small businesses and startups rent certain assets for their day-to-day operations. Section 194I is applicable on any amount paid for lease, sublease...
TDS is a certain percentage deducted at the time of payments of the various kind of Income such as salary, commission, rent, interest on dividends etc and deducted amount is remitted to the Government account.For example, an employer deducts TDS on the income of his employee every month ...
In short, at the time of making payment, the payer withheld a certain percentage of the amount and deposited it with the government. In this way, the tax on income is charged in advance, rather than on a later date and the recipient get the net amount, i.e. after TDS. Some examples...