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Tds on rent.

This query is : Resolved 
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(Querist)
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.
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Mihir Doshi

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Mihir Doshi (Expert)
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.
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
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
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
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
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Durgesh Laddha

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Durgesh Laddha (Expert)
16 April 2012 If owner have pan no. you should deduct 10% tds otherwise 20% tds should be deduct
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
16 April 2012 TDS is deductible.
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Bhavesh

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Bhavesh (Querist)
19 April 2012 THANKING ALL EXPERTS FOR THIER FEEDBACK.
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