Tds on rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2013 Hello all,

Our office premises is on rent and we have 4 parties (13750/-each for 12mnths for FY2012-13)whom we pay rent. rent period is Aug - Jul so 9 mnths rent comes in one FY and other remaining in other financial year.. and rent wil kp on increasing by 10% evry year.

So now my quest TDs on rent shud be deducted on total of 4 parties or single person whn it exceed the limit.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 June 2013 Limit of Rs 1.80 Lacs to be considered for single payee. If rent paid to a single party crossed the threshold limit of Rs 1.80 lacs only then TDS required to be deducted.

Ganeshbabu K

Ganeshbabu K (Expert)
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27 June 2013 If the property is owned by two or more owners and the individual share of each co-owner is definite and ascertainable the limit of Rs.180000/- shall apply to each co-owner separately.

Thanks & regards
Ganesh babu k

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2013 thanks for your quick reply.

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