Tds on rent

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BHAKTI BHUSHAN MUTHA (Querist)
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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.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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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

Ajay Mishra

Ajay Mishra (Expert)
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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/