TDS Quiz

E Ltd entered with a contract with ABC Travels for transportation of its employees to office. As per the agreement E Ltd has to pay Rs. 55,000 per month. Discuss the TDS obligation if vehicle will be maintained by E Ltd and Minute repairs will be borne by it

E Ltd entered with a contract with ABC Travels for transportation of its employees to office. As per the agreement E Ltd has to pay Rs. 55,000 per month. Discuss the TDS obligation if vehicle will be maintained by E Ltd and Minute repairs will be borne by itwill be maintained by ABC Travels. After transporting the employees the vehicle along with driver will return to ABC Travels Shed.

Thumps Up company a leading cold drinks manufacturer in India paid Rs. 7 crores to Great Creative eye Ltd for making an Ad of 60 second by taking the Tollywood actor Mahesh Babu as its Brand Ambassador. Discuss the TDS liability.

Thumps up Company paid Rs. 65 lacs to Door Darshan Channel for broadcasting the 60 second Ad for one month in the channel.

Great creative eye Ltd paid Rs. 2 crores to Mahesh Babu and Rs. 4 crores to SS Rajamouli for creating the set for advertisement. Discuss TDS obligation in the hands of Great Creative Eye ltd

South Silks is paying Rs. 35,000 every month as hoarding rent to M & Co. Discuss the TDS obligation in the hands of South silks. What will the case, if south silks sublets the hoarding to someone else

Dr G a shareholder and doctor of XYZ hospital availed interior decorating service from A&A Associates for designing her residential house. A&A sent a bill of Rs. 1 crore Discuss TDS obligation

ABC & Company booked park hotel for conducting a fair/exhibition. The payment made for the same is Rs. 20,00,000 for one day Discuss TDS details if Bill amount is inclusive of food expenses and Food amount is not mentioned separately

ABC & Company booked park hotel for conducting a fair/exhibition. The payment made for the same is Rs. 20,00,000 for one day Discuss TDS details if Bill amount is inclusive of food expenses and Rent amount and both of them shown separately in Bill. For Food TDS needs to be deducted under which section and for Rent which section.

ABCD Ltd paid Rs. 40,000 to an Air travel agent for booking tickets from Chennai to Delhi for 3 employees. Discuss TDS obligation in the hands of ABCD Ltd

ABC Clothing is hired a XYZ Manpower consultant Pvt Ltd for recruiting 20 employees for it's organisation & made Rs.2.5 Lakhs as consideration, under which section TDS needs to be deducted

XYZ Ltd approached HDFC bank for a long term loan of 50,00,000 for a tenure of 7 years. Bank is asking for processing charges of Rs.70,000. Under which TDS needs to be deducted

X Ltd is importing a plant from China. And ICICI bank has given guarantee to honour the transaction. For this VWX Ltd is paying a guarantor fees of Rs. 1,50,000 to ICICI bank. Under which TDS needs to be deducted

Mr. R paid Arrears of rent to the extent of Rs. 2,50,000 to landlord. Discuss the TDS obligation.

Vijaya Electronics is paying rent of Rs. 28,000 for its shop. However, as there are two owners for the shop, while paying Vijaya Electronics is preparing 2 cheques of Rs. 14,000 and paying. Is it attract TDS

ABC Enterprise has taken a building on rent from Chennai Municipal Corporation for using the same for his business purpose. He paid a non refundable deposit of Rs. 3,00,000 and he is paying Rs. 30,000 as rent for each month. Discuss the TDS obligation

Is TDS to be deducted on payment made to Hotel for regular accommodation

B&B Pvt Ltd is opening a factory in Andhra Pradesh for manufacturing. It paid the following amount to Arihant engineering solutions Ltd, who is providing expert services in plant engineering and software developing paid Rs.20,000 as Technical Fees and Professional Fees of 50,000 on how much amount TDS needs to be deducted

Z Ltd has obtained loan of Rs. 25,00,000 from Tata Capital who is registered as a NBFC in India under Companies Act 1956. During the quarter it paid interest of Rs. 30,000 to Tata Capital. Discuss TDS obligation

Mr. X acquired a house property at Mumbai from Mr. Y, a resident, for a consideration of Rs.90 lakhs, on 20.6.2020. On the same day, Mr. X made two separate transactions, thereby acquiring an urban plot in Kolkata from Mr. C for a sum of Rs. 49.50 lakhs and rural agricultural land from Mr. D for a consideration of Rs.60 lakhs. Determine the applicability and compute the TDS on purchase of above three properties.

A has a turnover of Rs. 1,25,00,000 in the P.Y. 2022-23 In F.Y. 2023-24 he paid interest of Rs. 25,000. Whether Mr. A has to deduct TDS u/s 194A if he declares income u/s 44AD?

A purchased one plot from Mr. Feroz worth 10 crores, determine the TDS applicability of Mr. Feroz (Non Resident)

Mr. A receives Rs.15,000 as Interest from Savings Account, under which section Bank needs to deduct TDS ?

M/s XYZ & Co paid interest of Rs.90,000 to Sundaram Finance Ltd . Whether TDS applicable on the interest payment ?

XYZ& Co approached Sundaram Finance Ltd for a long term loan of Rs.50,00,000 for a tenure of 7 years. Sundaram Finance Ltd is asking for processing charges of Rs.70,000. Will it attract TDS

M/S.Rajesh & Co purchased goods from Suresh & Co for Rs.8,00,000 (excl. GST). Credit period of 3 months was given. Payment was made after due date, for which Suresh & Co charged interest of Rs. 10,000/- Whether TDS to be deducted on Interest paid for Late payments?