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TDS on house rent

TDS / TCS 3964 views 8 replies

Dear Friends

 

I am an individual and paying rent of20000 pm (15000 for building &land + 5000 for AC and other eqipments installed). Am I required to deduct TDS and then pay the rent.

 

Replies (8)

u/ 194I, TDS is to be deducted from rent if the payment exceeds Rs. 180,000/- in a year.

But you can deduct when you have a TAN number.

Yes you are liable to deduct Tax @ 10%. In case the payee is not willing to furnish his / her PAN details than deduct tax @ 20%

 

You must have TAN No in order to deduct tax. If you don't have, than apply for it.

agreee with mr rahul

RIGHT SAID ABOVE....

U\S 194 I, TDS ON RENT.....10 %

UP TO 180000, NO TDS,ANNUAL RENT...

As per IT Act, TDS is to be deducted on Rent is the payment exceeds Rs.180000 annually for building &land and also in case of Plant & Machinery.

In ur case if u have seprate receipt for building rent & air conditioner rent the u r not liable for TDS because AC is covered in Plant & Machinery otherwise u have to deduct tax at the applicable rates.

thanks to all for the reply.. I am in service so still I need to obtain TAN and deduct TDS

You must have TAN No in order to deduct tax. If you don't have, than apply for it.

Right said...agree

No TDS is liable to be deducted if the payment is being made by an Individual or HUF who is not required to get his audit done u/s 44AB. So, you being a salaried employee are not liable to deduct any TDS on the rent.


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