Tds on rent
This query is : Resolved
Manish Jain
(Querist)
07 October 2013
An individual paying rent Rs. 20000/- Per Month.
can he is eligible for DEDUCTING TDS
U/S 194 I
can he is eligible for DEDUCTING TDS
U/S 194 I
CA Pallav Singhania
(Expert)
07 October 2013
An Individuals or an H.U.F. is not liable to deduct TDS on such payment except where the individual or H.U.F. is carrying on a business/profession where accounts are required to be audited u/s 44AB, in the immediately preceding financial year.
regards,
regards,
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07 October 2013
Agreed with aryan.
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Manish Jain
(Querist)
07 October 2013
its mean individual paying rent for his living with family, he can not deduct TDS. he have to pay all amount
CA Pallav Singhania
(Expert)
07 October 2013
Generally not,
Only if the assessee carrying on Business/Profession and its accounts been Audited U/S 44AB {Tax Audit} in the immediately in the preceding year..
Only if the assessee carrying on Business/Profession and its accounts been Audited U/S 44AB {Tax Audit} in the immediately in the preceding year..
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