Tds rent

This query is : Resolved

venkatesh (Querist)
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29 March 2014 WE HAVE FOUR FLOORS

1 FLOOR - 60000
II FLOOR - 55000
III FLOOR - 40000
IV FLOOR - 108000

IN THIS CASE

IV FLOOR 108000
TDS 2% 2160

IS IT CORRECT ?

I WANT TO KNOW ABOUT TDS SHOULD BE DEDUCTED IN TOTAL 4 FLOORS AMOUNT OR NOT ?

HOW SHOUID I RAISE A INVOICE FOR EACH FLOOR

CAN U PLEASE EXPLAIN..

THANKS IN ADVANCE

Sandeep Dharar

Sandeep Dharar (Expert)
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29 March 2014 No u can't deduct TDS on Rs. 108000 since it does not cross the limit of Rs. 180000 u/s 194I(Rent).

Visit following link:

https://incometaxmanagement.com/Pages/Tax-Management-Procedure/3-13-Payment-Of-Rent-Section-194%20i.html

venkatesh

venkatesh (Querist)
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29 March 2014 SIR THEN TAX PAYER DEDUCTED THE AMOUNT AND PAID 105840 INSTEAD OF 108000 DEDUCTED 2% OF INTREST AND PAYED THE CHEQUE..

WHAT I HAVE TO DO..

Sandeep Dharar

Sandeep Dharar (Expert)
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29 March 2014 Firstly tell me the whole thing. That whether all the floors r occupied by same person? Whether it is for Residential use or commercial? And if Separate agreement is made for all the floors?

venkatesh

venkatesh (Querist)
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29 March 2014 SIR IT IS A COMMERCIAL. EACH FLOOR RENTED A DIFFERENT COMPANY

Sandeep Dharar

Sandeep Dharar (Expert)
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29 March 2014 Then there is no TDS applicable in this case. U can have a talk with them & try to solve the matter that the limit u/s 194I has not crossed. If after all that they r not accepting then u can sue them & u will get ur amount with interest.

Sandeep Dharar

Sandeep Dharar (Expert)
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29 March 2014 Venkatesh I suggest its better to hire a professional(like CA) in this case.

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venkatesh

venkatesh (Querist)
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29 March 2014 SIR THEN SHALL I ADD 2% TO THE TOTAL AMOUNT AND MADE INVOICE ON IT