Tds on rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2012
pvt ltd co. paid rent every month rs.22500 from last nov-2011 last f.y we did not deduct tds on rent but now this year tds is applicable but our landlord told me he is not liable for tds as per agreement total rent amount 1st apirl 12 to oct 12 rs.157500 , he told me you will be deduct tds after oct or over limit 180000/- is it possible or not?
04 June 2012
1. TDS is required to be deducted on the TOTAL payment and not on the amount exceeding Rs. 1,80,000.
2. Since you know at the beginning of the year that the payment will exceed Rs. 1.8 lakhs, TDS shall be deducted from the first month itself.
2. Since you know at the beginning of the year that the payment will exceed Rs. 1.8 lakhs, TDS shall be deducted from the first month itself.
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