Tds rent

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2016 Monthly rent to be paid is 70000 , tds should be deducted or not . we are PVT Ltd company

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

28 April 2016 Yes, TDS to be Deducted u/s 194I 10% If the amount of rent paid/credited during the financial year does not exceed Rs. 1,80,000, then no TDS is required to be deducted. If the amount of rent paid/credited or likely to be paid during financial year exceeds Rs. 1,80,000 then TDS is to be deducted on whole amount.

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2016 Then what about service tax

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

28 April 2016 TDS to be deducted on Net Before Service Tax i.e.Excluding Service Tax.

Service Tax Tresh hold limit 10 Lakhs .

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

28 April 2016 No need being< 10 lacs per annum.

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2016 Kindly give me example sir

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2016 Thanks for ur replay

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

28 April 2016 Yes tds should be deduct u/s 194I @ 10%

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2016 Thank u sir for ur replay

Kaushik Joshi

Kaushik Joshi (Expert)

28 April 2016 Dear Anonymous, If you are paying rent on machinery then tds@2% is applicable. if it's building or land appurtenant thereto, then @10%.

CA Durga Rao Arigela

CA Durga Rao Arigela (Expert)

28 April 2016 Example for TDS vs Service tax :
Say Building Rent is ₹70000 per mth excluding service tax. If the owner charges service tax(Charges ST only when his total rental income of him from all tenants exceeds ₹10 lacs subject to other T&C) then amount payable to owner before TDS is ₹80150 (ST @14.5% included).
TDS is ₹7000 (@10% on ₹70000)
Net amount payable to owner is ₹73150

Querist : Anonymous

Querist : Anonymous (Querist)

29 April 2016 How is CSR Caliculation