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.