TDS On Rent

This query is : Resolved

Jay Nandha (Querist)
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17 July 2009 Hello.......
I Pay rent monthly Rs.49500.00 for premises to individual owner. So I want to know percentage of TDS & Surchrge for this payable rent for deduction.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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17 July 2009 As per Section 194 I ,
Tds deducted u/s 194 on rent paid till 1st Oct 2009 15.45%
On rent paid onwards 1st oct 2009, Tds on rent is to be deducted 10.30% .

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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17 July 2009 Sir, on 1st October onwards it shall be only 10%. Education cess is now not to be added on TDS amount. Further, this provision shall apply only when budget is passed on 22nd July. Third, please ensure that deductor is not an individual. An individual is liable to deduct TDS if he is covered in Section 44AB i.e Tax Audit.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 July 2009 Mr.Tarun's explanation is correct.

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