TDS on Rent paid
This query is : Resolved
17 July 2008
Good Morning to all,
Any one can tell me if rent paid to shop owner by company or firm attracts deduction of TDS on rent? And if the owner gave 2 names for rent receipt purpose
i.e. if we monthly rent of Rs.15000/- then annual rent will be Rs.180000/- which exceeds Rs.120000/- it attracts TDS. But if i given payments in favour of 2 different names, i.e.Rs.7500/- (Rs.90000/- p.a.) to Mr. A & Rs.7500/-(Rs.90000/- p.a.)Mr.B, then it attracts TDS on Rent?
Any one can tell me if rent paid to shop owner by company or firm attracts deduction of TDS on rent? And if the owner gave 2 names for rent receipt purpose
i.e. if we monthly rent of Rs.15000/- then annual rent will be Rs.180000/- which exceeds Rs.120000/- it attracts TDS. But if i given payments in favour of 2 different names, i.e.Rs.7500/- (Rs.90000/- p.a.) to Mr. A & Rs.7500/-(Rs.90000/- p.a.)Mr.B, then it attracts TDS on Rent?
17 July 2008
if rent payer is individual or huf, who are not required to undergo tax audit u/s 44AB, no need to deduct tds.
in case of company or firm, if payment to single person does not exceed rs. 120000/- p.a., no need to deduct tax.
in case of company or firm, if payment to single person does not exceed rs. 120000/- p.a., no need to deduct tax.
17 July 2008
In case the rent is paid to two persons then no tax is to be deducted as the payee are in receipt of rent less than 120000. The limit is to be considered person wise.
17 July 2008
As in your case rent is given by the firm or the company it will have to deduct the tax if the total payment is crossed by 1,20,000/- P.A. In ur case no need to deduct the tax.
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
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
