Tds limit rent on commerical building
This query is : Open
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.
service tax applicable for rent on commerical building.
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.
GST applicable if annual rent receipt exceed 20 lacs.
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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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