TaxTMI 
TaxTMI 
sir,
i would like to know that whether incometax is to be recovered for contingent bills like supply of materials like shamianas,sound system,supply of furniture and water drums etc.
applicability of incometax
16 Sep 2011 
3 Replies 
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Guest 
TDS on rent for equipment and furniture applies when annual rent to a single payee exceeds the statutory threshold.
TDS provisions apply to payments characterized as rent or hire for machinery, equipment, furniture or fittings. Where aggregate rent/hire payable to a single assessee in a financial year exceeds the statutory annual threshold of Rs. 180000, TDS must be deducted on such payments for supply or hiring of equipment and furniture. (AI Summary)
TDS provisions apply to payments characterized as rent or hire for machinery, equipment, furniture or fittings. Where aggregate rent/hire payable to a single assessee in a financial year exceeds the statutory annual threshold of Rs. 180000, TDS must be deducted on such payments for supply or hiring of equipment and furniture. (AI Summary)