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How much tds to be paid (Income Tax)

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This query is : Open

( Querist )
31 December 2011


Hearty new year 2012 wishes to all first.

me started a firm on september 2011 for the same me taken two property on rent.

1)Till date I have not paid rent for one property. By this january i will be paying the all rental dues to the landlord.I have to pay any interest or penalty while making TDS.

2) Another property till december month i had made the rental payment. But till now I have not paid the TDS for that.If I wnat to pay tds then how much i have to pay with interest and penalty.

can you kindly guide me in this regards.

Expecting your fast response in this regards at the earliest.

Thanks in advance for the fastest response.

sri hari

Yogesh Agarwal

( Expert )
31 December 2011

Wish you too a very happy and prosperous year ahead....

Now you have not disclosed the status of your business.. Like it is sole prop, firm, company or any thing else..

I give my reply assuming yours is a prop'ship business....

Now if my assumption is true then you are not supposed to deduct any tax at source since in case of an individual and huf if tax audit has been carried out u/s 44AB in previous year then only you are required to deduct TDS.... Since you have started your business in the current year only and no business or tax audit was carried out in previous year you are not liable...

Hope you are clear...

Enjoy the new year...




( Querist )
06 March 2012

hi mr.yogesh

thanks for the response.

mine is a proprietor ship firm.

me got my TAN allotment on november only. whether I am paying 17000/- to one property and Rs.28000/- to another property as a rental.

can you clarify me that whether I have to deduct tds from the rent. If i have to pay how to calculate the interest.

can you explain me

awaiting for the response

sri hari



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