Tds on rent paid
This query is : Resolved
22 May 2019
If I pay a rent of more than RS 50,000 per month to a landlord who is a 'resident', I am required to deduct and deposit TDS @ 5%. I believe this is under section 194. But if the landlord is a non-resident, the TDS deducted and deposited is under section 195. If this understanding is right, I want to know what is the rate of tax deduction. Also is the limit of Rs 50000 is still applicable or is there any limit at all and I must deduct TDS even at lower rent.
23 May 2019
+ In the case 'resident land lord, your understanding is correct. Section is 194-IB
+ If the land lord is 'non resident' section 195 attracts. Tax rate is 31.20% subject to changes, if any, made in each Finance Act, No threshold limit to attract deduction.
+ If the land lord is 'non resident' section 195 attracts. Tax rate is 31.20% subject to changes, if any, made in each Finance Act, No threshold limit to attract deduction.
Message likes :
1 times
23 May 2019
Thank you Mr Warrier
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Short Term Gain Reporting ITR
- GST ISD Query on various AMCs
- TDS refund Indemnity Bond
- Computation of Dividend
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
