TDS on joinly own Building

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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

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 June 2010 TDS to be deducted on amount paid and from the person to whome the amount is paid.

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K V Subba Rao

K V Subba Rao (Expert)
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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

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 June 2010 If the agreement are differnent not necesary to deduct TDS since it is less than Rs.120000/-

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