Tds on income from house property
This query is : Resolved
12 April 2013
Hi All.. one query ..
supposing I am renting out a property to a company for lets say Rs 20000 per month
so this would make annual rental income 240000 .. now does this mean that under sec 194-I of income tax act, the tenant will deduct TDS % on only ( 240000-200000 = 40000 ) or will the TDS % be calculated on the full 240000 itself?
supposing I am renting out a property to a company for lets say Rs 20000 per month
so this would make annual rental income 240000 .. now does this mean that under sec 194-I of income tax act, the tenant will deduct TDS % on only ( 240000-200000 = 40000 ) or will the TDS % be calculated on the full 240000 itself?
Dintakurthi Tirumala
(Expert)
12 April 2013
TDS will be deduct on full amount of rent paid.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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Dintakurthi Tirumala
(Expert)
12 April 2013
Thus TDS shall be deduct on Rs. 2,40,000.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
CA Parul Saxena
(Expert)
12 April 2013
yes TDS will be deducted on 240000.....
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Dintakurthi Tirumala
(Expert)
14 April 2013
Rs.1,80,000 p.a If the rent paid exceeding or to be exceed Rs.1,80,000 then you have to deduct TDS.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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