Tds on rent

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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)

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)

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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