Tds on furniture rent

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sanjeev goski (Querist)
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20 September 2016 If in one contract one person is giving flat rent 5k p my. & another one is giving furniture rent 26 k p my. If Tds applicable then under which sec. & %?.

Unnikrishnan B

Unnikrishnan B (Expert)
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20 September 2016 Sanjeev,
Tds to be deducted for furniture rent or building given for rent @10% if the rent amount crosses Rs180000/- year.
if only furniture given for rent for Rs26000/- per month TDS to be deducted @10%
Section 194I

In thus section rent has wide meaning

sanjeev goski

sanjeev goski (Querist)
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20 September 2016 I red below statement from tax guru site "In case where building is let out by one person, and furniture, fixtures, etc., are let out by another person, then the payee is required to deduct tax under Sec. 194-I only from the rent paid/credited for the hire of building." As per this statement TDS is to be deducted only on rent portion ( suppose rent is above Rs.1.80L)?.

sanjeev goski

sanjeev goski (Querist)
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20 September 2016 ...rent portion of building Only?.

Unnikrishnan B

Unnikrishnan B (Expert)
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20 September 2016 Sir, in the case of income from house property the additional facilities provided to be deducted to arrive at the rent .and additional facility us taxed under income from other sources.this is for valuation of HP
In your case both are independent transaction
I have answered pertains to the situation

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