Tds on rent
This query is : Resolved
02 October 2013
I'v entered ibto lease agreement with 3 owners paying rent to 3 of the m in 4 installment... which in aggregate exceeds Rs. 3 L p.a. should i v to deduct tds on it assuning rent. Amt exceeds 1.80.
02 October 2013
If the rent paid to a single person is more than Rs.1.80 lacs then you have to deduct tds on such payment otherwise not.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
02 October 2013
Hi
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. 1,20,000/-. Individuals and/ or HUFs who are subject to tax audit are also under
obligation to deduct the tax at source [w.e.f. 1.6.1994]. The limit of Rs. 1,20,000/- has been enhanced
to Rs. 1,80,000/- w.e.f. 1.7.2010
Go to the following link:
https://www.charteredclub.com/tds-rent/
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. 1,20,000/-. Individuals and/ or HUFs who are subject to tax audit are also under
obligation to deduct the tax at source [w.e.f. 1.6.1994]. The limit of Rs. 1,20,000/- has been enhanced
to Rs. 1,80,000/- w.e.f. 1.7.2010
Go to the following link:
https://www.charteredclub.com/tds-rent/
02 October 2013
Agree with Experts,
well defined by Ajay Sir,
I don't think Mr. Bushan will have any query left now...
well defined by Ajay Sir,
I don't think Mr. Bushan will have any query left now...
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
- ITR-Capital Gain
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- GST ISD Query on various AMCs
- DUE DATE FOR ITR FILING
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Sale of Mutual Funds In Diffirent Financial Years
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Gst reverse charge mechanism to be claimed in the month of payment
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
