TDS on Rent

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Ranimol C.K. (Querist)
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05 May 2009 I have to pay an office rent of Rs.60000/- (excluding service tax) from april 2009 onwards. How much is the TDS that I have to deduct from the Rent? What is the due date of tds on rent?

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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05 May 2009 TDS is 15.45% of rent amount i.e. Rs. 60000*15.45%=9720.

Deposit date - Within 2 months from the end of the month in which credit is made. In any other case within one week from the end of the month in which deduction is made.

Ranimol C.K.

Ranimol C.K. (Querist)
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05 May 2009 Thank u veru much for ur expert answer

VNS Sarma, Advocate

VNS Sarma, Advocate (Expert)
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05 May 2009 TDS is 15.45% of Rent.
Time limit to deposit the Tax: a) Where the amount is CREDITED on last day of the account year,the tax deducted has to be deposited with in 2 months from the end of the month in which CREDIT is made.
b). Where the amount is CREDITED/PAID on any other day, the tax deducted has to be deposited with in one week from the end of the month in which the Tax Deduction is made

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