Tds on rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 February 2012
Mr. X (Covered Under Audit in F.Y. 10-11) pays rent of Rs. 90,000/PM from 01/04/2011 for use of Building.
Now my question is Mr. X has to deduct TDS from First month or Mr. X has to deduct TDS once amount crosses Rs. 180000.
Now my question is Mr. X has to deduct TDS from First month or Mr. X has to deduct TDS once amount crosses Rs. 180000.
23 February 2012
TDS shall be required to be deducted from month ONE. The reason being the amount of payment towards rent shall be exceeding the limit of Rs.1.80 lakhs during the year.
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Guest
Guest
(Expert)
27 February 2012
Tax to deducted from inception of contract since the total amount of rent was above 1.8 lakhs and this fact was known from first month.
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