Tds on rent

This query is : Resolved

ARCHANA (Querist)
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04 April 2019 Sir

Individual Rent payment Rs. 52,000/- to Individual how much TDS deducted fy 2019-20 If owner not having Tan how to pay TDS

Kindly help me rent tds producure of Rent what is limits, section, date of tds payment etc

Thanking you

CA Meetali

CA Meetali (Expert)
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04 April 2019 IS 52000 rs. is annual or monthly
If it is annual no TDS is required to be deducted.

ARCHANA

ARCHANA (Querist)
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04 April 2019 It is monthly Rent Deduct TDS or Not what %

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 April 2019 Please clearly mention the source of income of the tenant. If he is a businessman and his accounts are audited U/s 44AB (Tax Audit) then TAN number is required and tax is to be deducted @ 10%.
In other cases mentioned U/s 194-IB-tax is required to be deducted @ 5% and there is no requirement of TAN.
If you refer section 194I and 194-IB you will get all the required information. You may refer the link given here under-
https://www.myloancare.in/tax/tds-on-rent/

ARCHANA

ARCHANA (Querist)
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05 April 2019 Thank you sir for your reply

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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10 April 2019 This query is resolved.

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