TDS on Rent
This query is : Resolved
19 November 2009
Hi can any one tell me that, we are having trust and we take one room for rent(for labours) under which we make agreemnent with room owner also we pay advance amount Rs. 40000/- as a advance rent for every month now my Q is whether TDS is compulsary or not..... reply me as soon as possible with explaination...........
19 November 2009
if rent amount exceeds Rs.120000/- p.a, then tds will be applicable. otherwise no need to deduct tds.
19 November 2009
agree with the expert
taxindiaconnect
(Expert)
19 November 2009
The TDS will be applicable even if the rent is paid in advance. From your query it seems that your trust is paying a sum of Rs 40K as advance rent. TDS is certainly applicable
CA Ravi Sisodia
(Expert)
19 November 2009
yes TDS is applicable on advance rent also. if rent is Rs. 120000 p.a. or more then TDS should be applicable.
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