Tds on rent u/s 194-i

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Arjun Rathi

Arjun Rathi (Querist)
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16 April 2014 I have a property with my three friends as a co-owners. rent is 20000 p.m. Tds is applicable or not???

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 April 2014 If the amount of rent is received by all 4 of you separately and PAN is also provided by all of then TDS not required to be deducted since annual rent paid to each of you will be less than the threshold limit which is Rs 1.80 Lacs per annum.

CA.M.V.RAMACHANDRA RAO

CA.M.V.RAMACHANDRA RAO (Expert)
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17 April 2014 AS PER PROVISIONS OF SEC 194-I IF THE SHARES OF ALL CO-OWNERS ARE DEFINITE, THEN THE EXEMPTION LIMIT OF RS. 1,80,000 IS APPLICABLE TO EACH CO-OWNER SEPARATELY. SO IN YOUR CASE THERE IS NO TDS IS APPLCABLE.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 April 2014 Please see CBDT Circular 715 (question No.21) dated 8.8.1995 in support of the above answers.

Rupesh Jain

Rupesh Jain (Expert)
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17 April 2014 rent amount share by all friends and limitfor tds U/s 194I Rs. 180000/- in a year.

you total rent is Rs. 240000/- but individual get rs. 60000/-
no tds =will be deductible.

pls give all pan number to tenant.

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