TDS

This query is : Resolved

JINNY (Querist)
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11 December 2009 ONE PERSON IS RECEIVING RENT FOR THE PROPERTY
LEASED BY HIM FOR RS. 50000 P.A. THE PERSON RECEIVING RENT CHARGES SERVICE TAX ON RENT AMOUNT @ 10%. NOW, THE PERSON PAYING LEASE RENT IS REQUIRED TO DEDUCT TAX AT SOURCE ON SUCH RENT PAYABLE. THE QUESTION IS, ON WHICH AMOUNT THE PERSON SHOULD DEDUCT TAX AT SOURCE, WHETHER INCLUDING SERVICE TAX OR EXCLUDING?

Balakrishnan

Balakrishnan (Expert)
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11 December 2009 TDS on properties is payable only if it exceeds Rs. 120000/- p.a. In your case it is only 50000/- p.a. Hence TDS is not attracted.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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11 December 2009 not applicable if rent receipt under Rs.1,20,000/- P.A.

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