Tds on rent
This query is : Resolved
25 February 2017
Dear Experts ,
we are trade union & pan is registered under Association of persons. My query is that we are paying office rent to 2 co- owners Rs 20,000/- from feb -2018 for block A & Rs 20000/-for block B . block A is owned by Mr. X & block b owned by Mr Y. leave & licence agreement registered in the name of AOP & Mr X & MR. Y
Shall we deduct the tds or not if yes under which section 194I or 194 IB is applicable
Please its very urgent
we are trade union & pan is registered under Association of persons. My query is that we are paying office rent to 2 co- owners Rs 20,000/- from feb -2018 for block A & Rs 20000/-for block B . block A is owned by Mr. X & block b owned by Mr Y. leave & licence agreement registered in the name of AOP & Mr X & MR. Y
Shall we deduct the tds or not if yes under which section 194I or 194 IB is applicable
Please its very urgent
25 February 2017
You are liable to deduct TDS at 10% u/s 194 I. Deduct it now for the earlier period for the year and pay it.
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26 February 2017
Yes, TDS on Rent applicable, you can deduct and pay TDS on Rent
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