TDS on rent
This query is : Resolved
Gourav Kapoor
(Querist)
02 June 2011
If a person have a resident property ...aur us ne 3 floor house bnaya hai ....3 floors rent par deye hue hai ....he received payament for 1 floor - rent7000 ,2 floor-rent6000 ,3 floor - rent7000...totally he receved 20000 p.m....kya jo payment individual ko recived ho rhi hai vo tds deduct karne ke bad receved ho ni chahiye..?
Rakesh Jain
(Expert)
02 June 2011
Dear Gourav,
The Tax Deduction liability is on the side of Rent Payer. If a rent payer is paying rent more than 180000 than he must deduct the tax on rent paid. assuming the rent payer is eligible to deduct the tax.
in your case if all floor are rented to a single person than its responsibility of rent payer to deduct the tax.
if rent is paying by the diff. people than they dont need to deduct the tax.
The Tax Deduction liability is on the side of Rent Payer. If a rent payer is paying rent more than 180000 than he must deduct the tax on rent paid. assuming the rent payer is eligible to deduct the tax.
in your case if all floor are rented to a single person than its responsibility of rent payer to deduct the tax.
if rent is paying by the diff. people than they dont need to deduct the tax.
Aditya Maheshwari
(Expert)
02 June 2011
If all floors rented out to a single person then TDS dedutible otherwise not and the liability to deduct TDS is of the payer if rent payable by him to one assessee is more than Rs. 180,000/-.
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