TDS on Rent under section 194 I of I.T. Act-1961

This query is : Resolved 

08 July 2008

Four school units are run U/single trust.The owner of bldg. of all four school is one Individual only.Each school is paying rent of Rs. 3000 p.m.(i.e. Rs. 36000 p.a.). Total rent together of four schools is Rs. 144000 which is more than the prescribed limit under section 194 I of income tax Act-1961. Whether each school is liable for deducting TDS on the rent (particularly in view of facts that the TRUST is the owner of all the four schools)? Please reply as early as possible.

S.Srinivasaraghavan (Expert)
08 July 2008

Only Individuals and HUF whose gross receipts are less than the limits u/s 44AB are exempt from section 194I from deduction of TDS.

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