TDS on joinly own Building
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 June 2010
In case building is jointly own by 2 person, TDS to be deducted is per person >1,20,000/- or total rent paid to both >1,20,000/- liable to TDS
10 June 2010
TDS to be deducted on amount paid and from the person to whome the amount is paid.
Message likes :
1 times
10 June 2010
Where there are number of payee, and each having definite and ascertainable share in the property – the limit Rs. 120000 will apply to each payee or co-owner separately. (It is advisable to not to enter into sham agreement to avoid TDS provisions) vide Circular No. 715 dated 8-8-1995
Source:
https://webcache.googleusercontent.com/search?q=cache:oLEzhNk68kMJ:jamnagaricai.org/AllFiles/RESOURCE/TDS%2520Presentation.pps+rent+jointly+owned+120000+limit+tds&cd=4&hl=en&ct=clnk&gl=in
Source:
https://webcache.googleusercontent.com/search?q=cache:oLEzhNk68kMJ:jamnagaricai.org/AllFiles/RESOURCE/TDS%2520Presentation.pps+rent+jointly+owned+120000+limit+tds&cd=4&hl=en&ct=clnk&gl=in
Message likes :
1 times
10 June 2010
If the agreement are differnent not necesary to deduct TDS since it is less than Rs.120000/-
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
