Tds on rent u/s.194 i

TDS 778 views 1 replies

Naresh Patel

C.A. Final

144 Points Joined July 2011

One has taken the factory for buisness & house for residing his employees and he pays the Rent of Rs.2,60,000/-(Per Annum) towards factory & Rs.1,60,000/-(p.a) towards House,

what he has to deduct TDS on aggregate of Rs.4,20,000/- (Also it is clarified that ownership of factory & house is with the same person to whom rent is paid) or only on factory rent of Rs.2,60,000/- (since, house rent below Rs.1,80,000/-).???

Replies (1)

Somaas Kandan

CA Final

385 Points Joined April 2010

If the Expenses booked in Accounts for Rent paid for House, then TDS should be deducted for the whole amount i.e 4,20,000 Other wise it should be on RS. 2,60,000 only.