TDS on rent
This query is : Resolved
10 April 2010
Hi all
We are taken a building for rent from trust what is the TDS Rate shall we Deduct from 1.10.2009 in all cases it is 10% but one of my officer is objecting the tds will differ for Individuals,Company & Trusts so please give me the detailed Chart for Everybody understanding the TDS Chart
Thanks & Regards
Sreenatha Reddy
We are taken a building for rent from trust what is the TDS Rate shall we Deduct from 1.10.2009 in all cases it is 10% but one of my officer is objecting the tds will differ for Individuals,Company & Trusts so please give me the detailed Chart for Everybody understanding the TDS Chart
Thanks & Regards
Sreenatha Reddy
CMA Ramesh Krishnan
(Expert)
10 April 2010
Building rent TDS All the cases 10 % only
CA Kapil B Gupta
(Expert)
11 April 2010
New Amendments for section 194 I AY 2011-12:
Rent - Plant & Machinery 2%
Rent - Others 10%
Threshold limit is increased from INR 120000 to 180000
These are applicable for both Individual /HUF and Others like companies.
If PAN is not quoted, TDS @ 20% or rate applicable under respective section, whichever is higher, in
all cases. Quoting of PAN is compulsory even when the assessee gives forms 15G / 15H.
NO Surcharge / NO Cess.
So as per your query, rate of TDS on Building on Rent is 10%.
Rent - Plant & Machinery 2%
Rent - Others 10%
Threshold limit is increased from INR 120000 to 180000
These are applicable for both Individual /HUF and Others like companies.
If PAN is not quoted, TDS @ 20% or rate applicable under respective section, whichever is higher, in
all cases. Quoting of PAN is compulsory even when the assessee gives forms 15G / 15H.
NO Surcharge / NO Cess.
So as per your query, rate of TDS on Building on Rent is 10%.
CMA Arif Farooqui
(Expert)
19 April 2010
agreed with Kapil
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