Tds on rent paid from hra received by me.

Save Share

This query is : Resolved

pradeep jain (Querist)

13 April 2018 In the Budget speech of FEB 2017 Finance Minister levied TDS on rent paid over & above Rs.50000.
I being a salaried person getting HRA over Rs. 10,00,000
In the last FY I had taken two property on rent making payment of Rs. 240000 * 2 = 480000 for one FOR THE MONTH April 2017 & May 2017 & Rs.48000 * 10 = 480000 for second property FOR THE MONTH June 2017 to March 2018. Hence paying total rent of Rs.960000.
Please advise me
1. Am I liable to deduct TDS u/s 10(13A) as in total I had paid Rs. 80000 per month.
2. Will I get Deduction for HRA for whole amt of rent paid or for rent paid for one of the property.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

13 April 2018 1. No as payment is made below Rs.50000 to a single person. 2. Only for a single house used for your residence.

Message likes : 1 times

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

15 April 2018 HRA Rs. 10,00,000 in India. Lucky person.
i) For TDS provision see section 194IB, Rule 30 (2A), (6B), Rule 31(3B),
Rule 31A(4B).

ii) For HRA deduction see section 10(13A) and Rule 2A.

iii) Concerned website is www.incometaxindia.gov.in

pradeep jain

pradeep jain (Querist)

15 April 2018 One house is used for 2 months & other for 10 months.
Then can both houses' rent be takenas exempted income frkm HRA

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now