Tds on rent
This query is : Resolved
31 March 2017
an indivisual who is in tax audit receiving rent from 3 or 4 tenants for different places .
rent per person is not exceeding 1.8 lacs and those tenants are in tax audit too
so is it required by tenants to deduct tds on rent when making payment to indivisual as per sec. 194I
rent per person is not exceeding 1.8 lacs and those tenants are in tax audit too
so is it required by tenants to deduct tds on rent when making payment to indivisual as per sec. 194I
31 March 2017
the aggregate of the amount of rent credited or paid or likely to be credited or paid during the financial year does not exceeds Rs. 1,80,000/- then no need to deduct TDS u/s 194I
In your case if aggregate amount of rent does not exceed Rs.180000/- then no need to deduct tds.
In your case if aggregate amount of rent does not exceed Rs.180000/- then no need to deduct tds.
31 March 2017
ok but actually in my case aggregate 180000 is for per party or aggregate of all ??
31 March 2017
Aggregate 180000 is for per party.
01 April 2017
i think aggregate of rent means total received or to be received total rent, it covers rent from all party
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