INCREASE LIMIT OF TDS ON RENT

This query is : Resolved

PRIYANK SANGHI (Querist)
Follow

06 March 2010 In budget 2010, Govt Increase Limit of TDS on Rent from 1,20,000 to 1,80,000 wef from 01/07/10.

I want to be an agreement of Lease @ Rs16,500 per month for 10 Months upto Income Tax Limit i.e. Rs 1,80,000 from 01-04-2010 without deducting TDS. So, Please advice me, it's as per rules or not.

taxindiaconnect

taxindiaconnect (Expert)
Follow

06 March 2010 The threshhold limit is for payment of rent during the year and in case the total rent in the year does not go beyond Rs. 180K, TDS will not be deducted even if the agreement is only for 10 Months and for the other 2 months the icnome from rent does not exceed Rs 15K. It seems that your query has a hidden query that if you enter the rent agreement before july 2010 for rent income of 16500 whether the tax would be required to be dedcuted. the answer is NO.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

zafar chandwale

Partha Pratim Sen

Akash Sawant

John Ravindran Moses

Shashank S Gore

Subscribe Now

INCREASE LIMIT OF TDS ON RENT

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Accountant

Article Assistant