Tds u/s 194i
This query is : Resolved
Manoj Kumar
(Querist)
21 January 2012
How the provisions of Sec194I are applied a person has let out his two different properties to a same payer. Will the limit of Rs 180000 applied to the properties individually & Separately?
21 January 2012
Though properties are different, the limit applies inclusive of both. Since both are taxable under 194I.
CA PARAS BAFNA
(Expert)
21 January 2012
I agree with the expert CMA Ravi Kumar to the extent that the limit applies inclusively.
.
As the payer and payee of rent are the same persons in respect to both the properties, the limit will be seen collectively for TDS purpose U/s 194I.
.
Had payee been different, the situation will be different. However, income will be taxable under the head IFHP or under the head of Business Income.
.
.
As the payer and payee of rent are the same persons in respect to both the properties, the limit will be seen collectively for TDS purpose U/s 194I.
.
Had payee been different, the situation will be different. However, income will be taxable under the head IFHP or under the head of Business Income.
.
Manoj Kumar
(Querist)
23 January 2012
thanks to all
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