This discussion clarifies the rules around Tax Deducted at Source (TDS) on rent payments made by a partnership firm. If a partnership firm pays rent exceeding £2,40,000 per annum, it is generally liable to deduct TDS at a rate of 10%. The advice also addresses the consequences for the recipient if the firm fails to deduct TDS, stating there are typically no adverse effects on the recipient's side in such scenarios.
04 January 2020
Sir Pl advise If partnership firm is paying rent of Rs.30000/- pm then is it liable to deduct TDS on it.. If yes then what will the tax rate. Regards Sanjay
14 January 2020
Sir If the partnership firm is not deducting TDS on rent of Rs.30000/- and giving me full amount. Then what will be the consequences on my side? I will show the total income . Pl advise.