Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2011
if we paid rent rs.38500*2 per month for two party.How much Tds deduct each party and when TDS is applicable on rent
19 December 2011
Section 194I of the Income Tax Act deals with TDS on rent.
TDS on rent is required to be deducted if the payment exceeds Rs. 1,80,000/- during the year.
Rate of TDS:
(a) two per cent for the use of any machinery or plant or equipment
(b) ten per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings
In this case the annual payment to each party comes to Rs. 4,62,000/-. TDS will be deducted at 2% or 10% depending on the nature of the asset.
TDS on rent is required to be deducted if the payment exceeds Rs. 1,80,000/- during the year.
Rate of TDS:
(a) two per cent for the use of any machinery or plant or equipment
(b) ten per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings
In this case the annual payment to each party comes to Rs. 4,62,000/-. TDS will be deducted at 2% or 10% depending on the nature of the asset.
Guest
Guest
(Expert)
19 December 2011
Agree with expert.
20 December 2011
TDS will deduct 2% if PAN is available otherwise 20%
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Last year TDS Claim
- Taxation on LTCG for property sold after 24JUL2024
- Suggestions required for income tax filing-software (FY 2025-26)
- GST ON DAMAGED GOODS
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
