Tds u/s 194i

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Manoj Kumar (Querist)
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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?

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
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21 January 2012 Though properties are different, the limit applies inclusive of both. Since both are taxable under 194I.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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21 January 2012 I agree with the expert CMA Ravi Kumar to the extent that the limit applies inclusively.
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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.
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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.
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Manoj Kumar

Manoj Kumar (Querist)
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23 January 2012 thanks to all

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