Tds on rent
This query is : Resolved
23 June 2014
sir,
if I have taken a property on rent which is jointly owned by two individual persons. total rent of property is more than 1.8 lacs annually. but if it will calculate in individual hand than it will be lower than 1.8 lacs. now am I liable to deduct tax u/s 194i or not.
23 June 2014
TDS not required to be deducted in the given case. Limit of Rs 1.8 lacs will be considered for each of the joint owners provided payment is made to each of them separately and they provide their respective PAN.
23 June 2014
if payment to single person less than Rs. 180000/- in a year then no tds required to deduct u/ s 194I.
take in PAN of both owner due to this is required for reporting purpose use by you in TDS returns.
take in PAN of both owner due to this is required for reporting purpose use by you in TDS returns.
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