Tds rent

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This query is : Resolved

venkatesh (Querist)

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)

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)

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)

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)

29 March 2014 SIR IT IS A COMMERCIAL. EACH FLOOR RENTED A DIFFERENT COMPANY

Sandeep Dharar

Sandeep Dharar (Expert)

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)

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

Message likes : 1 times

venkatesh

venkatesh (Querist)

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