TDS ON RENT


This query is : Resolved 

Quick Summary
A private limited company is renting a room from an individual for £24,000 per month, totalling £288,000 annually. The query concerns the applicable TDS (Tax Deducted at Source) on this rent. According to Section 194I of the Income Tax Act, the TDS rate on rent is 10%.

22 January 2020 Dear Sir,

A pvt. ltd. co. taken a room on rent from an individual person @ Rs.24000/- pm for their staff. ( 24000 x 12 = 2,88,000/-).

How much should i deduct TDS on rent.

Regards

R.S.Pandi

22 January 2020 Section 194I: TDS on Rent 10% applicable.

23 January 2020 10 % is the rate of TDS


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