Tds on rent(194 i)

This query is : Resolved

remesh (Querist)
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19 July 2013 Two Rent agreement, But rent paid to one person(Rs. 3,05,000.00 Yearly for both agreement) Whether TDS should Deducted or Not?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 July 2013 As the recipient of rental income is the same, TDS is deductible

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remesh

remesh (Querist)
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19 July 2013 Thank You Sir,

I stll need one more clarification

What if the 2 agreements are in the name of two different parties and the recipient is same??

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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19 July 2013 Then no TDS..........

In first situation TDS should be deducted
In second situation TDS should not be deducted.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 July 2013 Here you have not specified the agreed rent amount.
.
TDS provisions are applicable when the rent payment exceeds Rs. 180000/- to a single payee.
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If 1 agreement is of Rs. 1.00 lac with X and other is of 2.05 lac with Y, then TDS on payment to Y will be deductible.
.

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CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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19 July 2013 Agree with sir, that point i missed out.........

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