TDS on Rent
This query is : Resolved
CA. Shikha
(Querist)
14 July 2010
What is the maximum amount that can be shown as rent paid for claiming HRA exemption without having the liability to deduct TDS on the amount paid ?
Is it 1,80,000 or 1,20,000
Is it 1,80,000 or 1,20,000
Gaurav Barmera
(Expert)
14 July 2010
Exemption limit for TDS on rent is 1.8 lakh annually from 1.4.10. earlier it was 1.2 lakh.
14 July 2010
THRESHOLD LIMIT OF RS. 1.80 LACS IS FROM 1ST JULY 2010, NOT FROM 1ST APRIL 2010.
14 July 2010
Shikha, i think u r mixing both the limits...
An individual is not required to deduct TDS on rent paid unless he / she comes under the purview of section 44AB...
and if that is the case then the TDS is to be deducted @ 10% (if exceeding 180000, after 1.07.2010).
In normal case for getting HRA exempted under head Salary... Usually, HRA + 10% of HRA makes the HRA fully exempted..
Hope, i m clear abt ur query...
An individual is not required to deduct TDS on rent paid unless he / she comes under the purview of section 44AB...
and if that is the case then the TDS is to be deducted @ 10% (if exceeding 180000, after 1.07.2010).
In normal case for getting HRA exempted under head Salary... Usually, HRA + 10% of HRA makes the HRA fully exempted..
Hope, i m clear abt ur query...
CA Sanat Pyne
(Expert)
14 July 2010
agree with expert krishan
CA. Shikha
(Querist)
16 July 2010
Thanx everyone for replying to my query........
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