TDS on Rent Paid
This query is : Resolved
Anil Jacob
(Querist)
01 April 2009
Sir,
We pays rent of Rs. 22000/ Month. Office owner is not agreeing to deduct the TDS from rent. What is the effect on us, if we are not deducting the TDS from him. What is the rate of TDS on rent?. Do we need to deduct any other taxes like service tax?
Anil
We pays rent of Rs. 22000/ Month. Office owner is not agreeing to deduct the TDS from rent. What is the effect on us, if we are not deducting the TDS from him. What is the rate of TDS on rent?. Do we need to deduct any other taxes like service tax?
Anil
01 April 2009
You have to deduct TDS, u/s 194I.
Rate of TDS 15% or 20%, depends which type of assessee you are.
Just go through section 194I of IT Act.
Rate of TDS 15% or 20%, depends which type of assessee you are.
Just go through section 194I of IT Act.
01 April 2009
if u dont pay tds than rent expense wont be allowed as deduction...
rate of tds on rent for land or building is
15% if rent is paid to individual or huf
and 20% if rent is paid to others
thisn is the basic rate you need to add surcharge 10% if applicable and 3% for education cess
rate of tds on rent for land or building is
15% if rent is paid to individual or huf
and 20% if rent is paid to others
thisn is the basic rate you need to add surcharge 10% if applicable and 3% for education cess
Anil Jacob
(Querist)
06 April 2009
Thank you so much for the information. I am not going to deduct TDS. I am not showing this rent as an expense.
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