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House property & tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2011 R Ltd.let out its building to G Ltd. from 1.4.08 & received the following:-
Areas of Rent recd. - 70000
Rent for the year - 240000
Non- refundable deposit - 100000

What is the liability of G Ltd. for TDS?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 January 2011 1. Arrears of rent .Section 194I attracts. Refer 215 ITR 618(Mad).
2. Rent for the year .194I attracts.
3. Non- refundable deposit.Section 194I attracts.
Refer 2007 TIOL 124(Del) and CBDT Circular No.5/2001
and 718/1995.
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