194i in case of corp. providing accomodation to employees

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2014 A corporation is giving an accommodation to the employee (say M.D.), the house rental Rs.180000< is paid by company to the house owner as the rent agreement is between owner and the company (as tenant). Company is booking expenses as "Accommodation facility to employees" in P/L. Whether co. is liable to deduct TDS on that rent payment to house owner.?

Rupesh Jain

Rupesh Jain (Expert)
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09 August 2014 it is taxable under the salary head as perquisite in hand of MD .

if population in 2001 where accommodation is provided

more than 25 lacs then 15% of salary or lease rent paid by employer whichever is less will taxable in hand of MD.

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2014 Thankyou sir, please guide also if tds deduction liability is attracted.?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 August 2014 Yes TDS is required to be deducted u/s 194J @ 10% if the threshold limit of Rs 1.80 lacs per annum is crossed.

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194i in case of corp. providing accomodation to employees

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