TDS On Rent
This query is : Resolved
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.
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.
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% .
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% .
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.
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.
17 July 2009
Mr.Tarun's explanation is correct.
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