Tds on rent.

This query is : Resolved

Bhavesh (Querist)
Follow

16 April 2012 PVT. LTD. CO. PAYING RENT OF OFFICE RS. 17,500/-(JUN-2011) & RS. 25,000(FROM JULY 2011 - MARCH -2012) TOTAL RENT PAID RS. 2,42,500/- . THE OWNER OF THE PREMISES IS HAVING AGE APPROXIMATELY 72-75 & HAVING NO PAN. T.D.S SHOULD BE DEDUCTED ON RENT OR NOT AS HE IS SENIOR CITIZEN HAS NO OTHER SOURCE OF INCOME. SLAB RATE OF SENIOR CITIZEN IS RS. 2,50,000.

Mihir Doshi

Mihir Doshi (Expert)
Follow

16 April 2012 TDS to be deducted once it exceed the exemption limit i.e. 180,000/-. Though owner is senior Citizen, TDS is to be deducted by you. In this case, Owner should obtain lower / nil deduction certificate from ITO and submit the same to you.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

16 April 2012 since total rent paid exceeds rs 180000 hence tax deductible. no matter the total income of receipient is not taxable
CA MANOJ GUPTA
JODHPUR
09828510543

Message likes : 1 times

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

16 April 2012 agree with both experts,

194I for Rent will apply. its doesn't matter with the category of deductee if rent excess to 1,80,000/- tds need to deduct by deductor @ 10% except Service tax

Durgesh Laddha

Durgesh Laddha (Expert)
Follow

16 April 2012 If owner have pan no. you should deduct 10% tds otherwise 20% tds should be deduct

CA Prashant Gupta

CA Prashant Gupta (Expert)
Follow

16 April 2012 TDS is deductible.

Bhavesh

Bhavesh (Querist)
Follow

19 April 2012 THANKING ALL EXPERTS FOR THIER FEEDBACK.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

J.Vijai

mahendra zaveri

Prabhakar Manjunath

Ravikumar

Pranab Banerjee

Subscribe Now

Tds on rent.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA