Tds on rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2015 I pay cheque every month to our landlord from 1.02.2014 to 31.1.2015 of Rs 14000/- each month ,now landlord renewed rent agreement with 10 % hike i.e Rs 15400/- & rent amount will be paid Rs 15400/- from 1.02.2015.

My query is now can i deduct 10 % as tds at the time of payment or Rent.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 February 2015 If Tax Audit u/s 44AB was applicable to you in the previous Financial Year then you are liable to deduct TDS otherwise not.

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2015 Dear SIr,
But if i calculate total fy rent amount not exceed Rs 180000/-

Calculation (From 1st april 2014 to 31 jan 2015 is Rs 140000/-(14000X 10 month) & last 2 month of this fy is 30800/-. Total will be 170800/-

Then how can i deduct TDS.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 February 2015 Sorry. TDS not required to be deducted since threshold limit is not crossed.

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