Tds on rent
This query is : Resolved
28 January 2013
Dear all
I need a soution reg: TDS on rent:
I pay the rent to the building for Rs. 10000 P.M i.e 120000 P.A.
If I want to deduct the tax or not.
& what is the exemption limit.
I need a soution reg: TDS on rent:
I pay the rent to the building for Rs. 10000 P.M i.e 120000 P.A.
If I want to deduct the tax or not.
& what is the exemption limit.
28 January 2013
Purview of Section 194I (TDS on RENT):
The person (not being individual or HUF) who is responsible for paying any income to a resident by way of rent is liable to deduct tax at source in case the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to the payee exceeds Rs. 1,80,000/-. Individuals and/ or HUFs who are subject to tax audit are also under obligation to deduct the tax at source at 10%.
The present limit of 1,80,000/- is applicable w.e.f. 1.7.2010 i.e Rs. 15000/- per month.
The person (not being individual or HUF) who is responsible for paying any income to a resident by way of rent is liable to deduct tax at source in case the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to the payee exceeds Rs. 1,80,000/-. Individuals and/ or HUFs who are subject to tax audit are also under obligation to deduct the tax at source at 10%.
The present limit of 1,80,000/- is applicable w.e.f. 1.7.2010 i.e Rs. 15000/- per month.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
