Tds on rent
This query is : Resolved
Azharuddin
(Querist)
20 March 2014
let's assume a person has ownership of 3 DIFFRENT HOUSES. And he is charging 10000 per month PER HOUSE. That means his income from these houses is 360000 every year.
SO THE LIMIT OF RS.180000 SHUD BE TAKEN IN AGGREGATE FOR ALL PROPERTIES OR INDIVIDUALLY FOR SINGLE PROPERTY ???
NOTE:IN ALL THE ABOVE CASE PROPERTIES ARE OWNED BY A SINGLE OWNER ONLY..
WHEATHER TDS SHUD BE DEDUCTED OR NOT???????
SO THE LIMIT OF RS.180000 SHUD BE TAKEN IN AGGREGATE FOR ALL PROPERTIES OR INDIVIDUALLY FOR SINGLE PROPERTY ???
NOTE:IN ALL THE ABOVE CASE PROPERTIES ARE OWNED BY A SINGLE OWNER ONLY..
WHEATHER TDS SHUD BE DEDUCTED OR NOT???????
20 March 2014
since individually he is charging 8000 *12 =96000 is this per tenant or wat?
Sandeep Dharar
(Expert)
20 March 2014
TDS should b deducted u/s 194I i.e, Rent....
Azharuddin
(Querist)
20 March 2014
he is charging rs.10000 from each tenant..
20 March 2014
so if there is different tenants and if its not exceedsing 180,000 per tenant then no tds is deducted....
Azharuddin
(Querist)
20 March 2014
but 194i applies to the owner of the properties
and not the tenent
and not the tenent
Azharuddin
(Querist)
20 March 2014
tenant is a single person and has taken on rent diffrent premises owned by a single owner
Sandeep Dharar
(Expert)
20 March 2014
Look Azhar the limit of Rs 180000/- is on a single party, & if he is recovering rent from 3 diff. parties then no TDS will b applicable....
The tenants r liable to deduct TDS coz income is arising in hands of the owner, then how owner will deduct TDS???
The tenants r liable to deduct TDS coz income is arising in hands of the owner, then how owner will deduct TDS???
20 March 2014
in such case then payment to single tenant exceeds rs 180,000 then it tds is applicable...
Sandeep Dharar
(Expert)
20 March 2014
If Tenant is single person & payment is also made to single owner(360000/-) then TDS is applicable....
Azharuddin
(Querist)
20 March 2014
yes sandeep u got it right...
do u have any case study in this reference as proof
do u have any case study in this reference as proof
Azharuddin
(Querist)
20 March 2014
basically where the doubt came was since there were diffrent properties i thought limit of rs180000 is for every single property individually.
20 March 2014
there is no need for any case study in this case as the law is quiet clear....
Sandeep Dharar
(Expert)
20 March 2014
U can read different it in V K Singhania (Direct Tax Ready Reckoner), there u will find many more case & laws regarding that....
Azharuddin
(Querist)
20 March 2014
law never mentions the case for diffrent properties..
i am not able to find it in income tax act too...
i am not able to find it in income tax act too...
20 March 2014
so when its not mentionning then u need to interpret it as for whole property tds will be applicable...
CA. ASHWANI MAURYA
(Expert)
22 March 2014
This matter has already been made full of confusion. At last I want to clear it that
1. Tenant is responsible to deduct tax.
2. Tenant should be other than Individual & HUF.
3. Total amount of rent during the year exceeds Rs. 180000.
4. This is applicable to each tenant separatly.
1. Tenant is responsible to deduct tax.
2. Tenant should be other than Individual & HUF.
3. Total amount of rent during the year exceeds Rs. 180000.
4. This is applicable to each tenant separatly.
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