Tds on subleting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2016
whether TDS on subletting is deductable or not.
11 September 2016
Yes.
As per sec-194I of IT Act, 1961 any person who is not an Individual or HUF, who is paying any income to resident by way of rent is liable to deduct tax at source only in case the aggregate of the amount of such rent credited or paid or likely to credited or paid during the financial year by the aforesaid person to the account of, or to payee exceeds Rs. 1,80,000. Individuals or HUFs who are subject to tax audit are also under this obligation to deduct TDS.
Rent includes any lease, sub-lease, tenancy ,Sub-letting of any:
i) Land.
ii) Building
iii) Plant and machinary.
iv) Equipment , fixtures and furnitures.
As per sec-194I of IT Act, 1961 any person who is not an Individual or HUF, who is paying any income to resident by way of rent is liable to deduct tax at source only in case the aggregate of the amount of such rent credited or paid or likely to credited or paid during the financial year by the aforesaid person to the account of, or to payee exceeds Rs. 1,80,000. Individuals or HUFs who are subject to tax audit are also under this obligation to deduct TDS.
Rent includes any lease, sub-lease, tenancy ,Sub-letting of any:
i) Land.
ii) Building
iii) Plant and machinary.
iv) Equipment , fixtures and furnitures.
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