TDS on rent
This query is : Resolved
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
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
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.
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
Otherwise 15%+3%...The rate of deduction
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