tds on rent- for individual
This query is : Resolved
27 February 2008
salaried employees paying monthly rent Rs.15000/- (annual Rs.180000/-) on that amount TDS deducted or not?
sir please
sir please
27 February 2008
I WANT TO CLARIFY THAT ON SALARIED EMPLOYEE TDS SECTIONS SHALL NOT BE APPLICABLE AND HE IS NOT REQUIRED TO DEDUCT TDS ON RENT .
jegannath G
(Expert)
27 February 2008
Sorry, TDS is to be deducted by the payee only if his/ her account needs to be audited under income tax act (44AB)
hence salary employee paying Rent exceeding the basic exemption, need not deduct TDS.
hence salary employee paying Rent exceeding the basic exemption, need not deduct TDS.
Ca. Alok Gupta
(Expert)
28 February 2008
individual is not liable to deduct TDS on rent if he is not covered under section 44 AB
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