Deduction of tds

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ANSHUL AGRAWAL

ANSHUL AGRAWAL (Querist)
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11 August 2013 Is it the duty for the salaried person to deduct tds on rent paid in excess of 180000/-.

CA Suresh Jain

CA Suresh Jain (Expert)
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11 August 2013 The following part of section 194I will answer yr query

194-I. Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 August 2013 In case of payments made under sec. 194A, 194C, 194H, 194I and 194J in respect of individual and HUF, only if the turnover or professional receipt exceeds the sum, as prescribed for Tax Audit, in previous year, he is required to deduct tax at source.

So if Tax Audit not applicable to individual then TDS not required to be deducted.

CA Suresh Jain

CA Suresh Jain (Expert)
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11 August 2013 Mr. Sanjay is right, but A salaried person is not liable to Tax Audit and hence question of deduction of tax by him u/s. 194I does not arise

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