Applicability of tds
This query is : Resolved
28 January 2014
ABC LTD. paying salary of Rs. 12 laks to one of their director and in addition company also paid rent of Rs. 1 lakh p.a.
company deducted TDS on salary but not on Rent
please tell is company right in doing so?
in the above case contention of the assessing officer is that TDS was to be deducted on rent payment since Salary was in tax bracket?
company deducted TDS on salary but not on Rent
please tell is company right in doing so?
in the above case contention of the assessing officer is that TDS was to be deducted on rent payment since Salary was in tax bracket?
28 January 2014
Hi
Have you taken any property on rent from him? If yes then:
Salary wud be subject to 192B & rent payment would be subject to 194I limit.
Make sure you have separate agreement for the rent payment.
If no property is taken on rent then amount paid will be taxable u/s 192B.
Thx
Have you taken any property on rent from him? If yes then:
Salary wud be subject to 192B & rent payment would be subject to 194I limit.
Make sure you have separate agreement for the rent payment.
If no property is taken on rent then amount paid will be taxable u/s 192B.
Thx
Message likes :
1 times
28 January 2014
yes different property was taken on rent under separate rent agreement
is tds applicable on rent payment(Rs. 1,80,000) ?
is tds applicable on rent payment(Rs. 1,80,000) ?
28 January 2014
No TDS is applicable.
Thx
Thx
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
