TDS
This query is : Resolved
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?
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
(Expert)
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
(Expert)
11 December 2009
not applicable if rent receipt under Rs.1,20,000/- P.A.
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