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?
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?
C A GROUP COACHING
(Expert)
01 April 2009
1 Rent Paid in your case attracts TDS. If your land lord does not agree to it then Either you pay from your pocket & show rent a that added value amt.Incase you do not deduct & deposit TDS & you fall under TAX Audit then your Expense towards Rent shall be Dis allowed. You can also be treated as Assessee in default for Not paying TDS & penalised.
. No other TAXES are there which you have to deduct.Service tax is not the TAX which you have to deduct & Deposit. But it is the responsibility & liability of your Land lord. He has to collect from you & deposit the same.
Chandrakant Ambani
Bombay
9819408963
9821240674
. No other TAXES are there which you have to deduct.Service tax is not the TAX which you have to deduct & Deposit. But it is the responsibility & liability of your Land lord. He has to collect from you & deposit the same.
Chandrakant Ambani
Bombay
9819408963
9821240674
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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