Tds deduction on rent

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This query is : Resolved

bharat kumar (Querist)

04 May 2012 we have made provison of rent but tds not dedcuted on the same for the year 2011-12
rent exceeding the limit of rs. 180000/-
pm rent is 60000/- and agreemnt is in name of joint owner of four no. also the payment is not yet paid to owner for rent as it will be paid toghther of 12 month i.e in this month of may,2012

pls advice

Amol S Joglekar

Amol S Joglekar (Expert)

04 May 2012 TDS is required to be deducted on provision. Pay the TDS ASAP. File the TDS return before the due date.

bharat kumar

bharat kumar (Querist)

04 May 2012 thanks for reply,
but my basic query is that tds limit is rs. 1,80,000/- per person per year right,

we are going to make payment @ 60000/- pm I.e rs. 60000 X 12 = 720000/- among four onwner seperately ( as property belong to four partner) it comes equvalant to Rs. 180000/- per owner as same is stateed in agreement also that rent to paid among four owner in equal propotionate.

are we right if we pay them with deducting tds or if we reduce rent less of 180000/- per person ( Like 179999/-

pls advice

Amol S Joglekar

Amol S Joglekar (Expert)

05 May 2012 How can RENT be a function of TDS? TDS centric rent decision... I am not aware of this.

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