Tds limit rent on commerical building

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For the financial year 2020-21, the TDS threshold for commercial building rent is £2,40,000, with a standard TDS rate of 10%. However, a reduced TDS rate of 7.5% applied to payments made between 14th May 2020 and 31st March 2021. Additionally, GST is applicable if the annual rent exceeds £20 lakhs.

Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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27 September 2020 How much tds rate and limit rent on commerical building in I.t. act.
service tax applicable for rent on commerical building.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 September 2020 TDS threshold for deduction of tax on rent is Rs 2,40,000 for the FY 2020-21. TDS rate of 10% is applicable.
GST applicable if annual rent receipt exceed 20 lacs.

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Sagar Patel

Sagar Patel (Expert)
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28 September 2020 TDS on the amount paid or credited during the period from 14th May, 2020 to 31st March, 2021 shall be deducted at the reduced rates of 7.5 % [CBDT Press release dates 13th May, 2020]

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