TDS on rent

This query is : Resolved

praveen (Querist)
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11 July 2008 Hi,

our is partnership firm and we are paying rent of Rs. 200000 to individual
please tell me how much % we need to deduct tax
thanq

Regards,
praveen

Sambu Suresh

Sambu Suresh (Expert)
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11 July 2008 It falls U/s 194I. since u r paying to individual . you have to deduct TDS @15%+10% surchargea+ 3% education cess.

CA MOHIT VAATS

CA MOHIT VAATS (Expert)
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11 July 2008 it falls under section 194I ,The rate of TDS is 15%,bt in case the total payment exceed Rs.1000000 than 15%+10%+3%....

Otherwise 15%+3%...The rate of deduction