14 February 2013
Mr X and Mr.Y stay in a rented property wherein Mr.X bears 70% and Mr.Y bears 30% of the rent. The rent is paid to a single party i.e Mr.z The rent shall be paid for four month i.e dec-2012,Jan,Feb,Mar-2013 The amount of rent paid in total is Rs.50000/-P.M Who is responsible to deduct TDS ?
15 February 2013
The Individuals and HUF are not liable to deduct the TDS u/s 194 A, 194 - C , 194 I , 194 J , 194 H unless the individuals carry on the business or profession whose turnover exceeds the limit prescribed u/s 44AB (Rs. 1,00,00,000 in case of Business and Rs. 25,00,000 in case of a profession w.e.f.AY 2013-04. Previously the limit was Rs. 60,00,000/- and Rs. 15,00,000/-.
From your querry it is not clear the status of the payer.Hence, TDS provisions are not applicable.
Else, Mr. X would be required to deduct the TDS (70% of Rs. 6,00,000)the limit of Rs. 180,000/- as per sec. 194 I is exceeded in his case.
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