Tds on rent paid from hra received by me.

This query is : Resolved

pradeep jain (Querist)
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16 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.

But this section is applicable from June 2017. Then why I should deduct TDS on the rent of April 2017 & May 2017.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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16 April 2018 You are liable to deduct TDS in respect of first property only as amount is more than Rs.50000/- p. m. Second house rent is below Rs.50000 /-. So no need to deduct TDS.

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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16 April 2018 You have to deduct TDS @5% if you pay rent individual capacity.

HRA is allowed both House which you have occupied during your Salary income, You will get benefit subject to HRA Calculation as u/s 10(13A) .