Tds on rent

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Munish Kr. Gupta

Munish Kr. Gupta (Querist)
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01 May 2012 WHAT IS LIMIT FOR FY 12-13 FOR NO DEDUCTION OF TDS ON RENT?
& AT WHAT RATE?

CA. Ramiz M. Rather

CA. Ramiz M. Rather (Expert)
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01 May 2012 It is Rs. 1,80,000/-

Machinery@2%

Others@10%

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CMA MALHAR BEHERA

CMA MALHAR BEHERA (Expert)
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01 May 2012 TDS on Rent is deducted under Sec-194I :
For F.Y. 12-13 the rates are-
a)Plant & machinery it is 2%
b)others it is 10%

The limit is Rs. 1,80,000/-

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CA Kishore Tallam

CA Kishore Tallam (Expert)
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01 May 2012 Yes. Agree with experts. However, if the total rent exceed Rs. 180,000 p.a, TDS has to be deducted on total amount rather than on amount in excess of Rs. 180,000.

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