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Tds on house on rent

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 November 2014 Dear Sir ,

We have an Rental Agreement with House Owner . We are paying Rs.28600.00 on Monthly basis for his Flat .

Kindly provide me Information -TDS 10% is applicable on this Amount ? If Yes May I Deduct TDS amount while payment Rent Amount .

KINDLY EXPLAIN....

11 November 2014 Any person, other than an individual or a HUF, is responsible for paying to resident in India, any income by way of the rent, amounting in aggregate to more than Rs. 180000 in a financial year. However w.e.f. 01/06/2002, individuals and HUF who were covered under section 44AB (a) and (b) in the preceding previous year, are also required to deduct tax at source.

If you satisfy the above condition then you have to deduct 10% on rent paid as TDS.


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