Tds on rent for fy 2015-16
Rushabh (article) (49 Points)
20 April 2015
is tds deduct on rent of property for FY 2015-16 if it is above 180000 ???
CA HAYEDAR SHAIKH
(Practice )
(622 Points)
Replied 20 April 2015
Dear Rushabh,
If the rent value is at Rs. 180000/- or above 180000/- then you need to deduct TDS @ 10%.
See Section 194I for understanding.
Rushabh
(article)
(49 Points)
Replied 20 April 2015
CA HAYEDAR SHAIKH
(Practice )
(622 Points)
Replied 20 April 2015
Dear Rushabh,
Till date, no such notification has been received from Income Tax Department.
Therefore, you are liable to deduct the TDS @ 10%.
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