tds on rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2010
We are paying house rent to an individual. payment of rent exceeds maximum limit but my question is whether house is covered in the section 194 I or any definition of the section or the payment will be treated as perquisites. payment is made directly to land lord of behalf of employee.
House is used for the residential purpose of VP of company. As per Auditors tds is to be deducted u/s 194I and we are treating it as pewrquisites
House is used for the residential purpose of VP of company. As per Auditors tds is to be deducted u/s 194I and we are treating it as pewrquisites
11 June 2010
YES, TDS WILL BE DEDUCTED FOR SUCH RENT. YOU ARE PROVIDING RENT-FREE-ACCOMDATION TO EMPLOYEE AND TREATING IT PERQUISTIES , CORRECT, IT IS OK.
BUT BASICALLY IT IS RENT PAID BY YOU TO ANY PERSON WHICH IS EXCEED THE MAXIMUM LIMIT OF SECTION 194I. YOU HAVE TO DEDUCT TDS AND DEPSOITED THE SAME.
BUT BASICALLY IT IS RENT PAID BY YOU TO ANY PERSON WHICH IS EXCEED THE MAXIMUM LIMIT OF SECTION 194I. YOU HAVE TO DEDUCT TDS AND DEPSOITED THE SAME.
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