tds whether deductible 194 I?

Save Share

This query is : Resolved

Tejas (Querist)
Follow

14 July 2009 Respected sir,
our client m/s XY has paid rent amounting in aggt. rs. 230000 but the payments has been made to 3 different landlords for different premises kindly advise me how should tds be deducted in following case:
2000*12= 24000 in a year to landlord A
9000*12= 108000 in a year to landlord B
8000*12= 96000 in a year to landlord C
pls tell me when all of above were paid in months regularly by m/s XY and they have not deducted any TDS how do i rectify this error ?

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

14 July 2009 Since payment to one person is less than Rs. 120,000/- no need to deduct TDS on the same. If payment to one person exceeds Rs. 120,000/- then TDS is deductible even if payment to 3 persons are made for same property.

taxindiaconnect

taxindiaconnect (Expert)
Follow

14 July 2009 Agreed with aditya, A well explained answer.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

14 July 2009 If there are a number of payees, each having a definite and ascertainable share in the property, the limit of Rs.1,20,000/- will apply to each of the payees/co-owners separately.

Ref:- Circular no. 715 ( question no.21) reported in 215 ITR (St) 16.

In view of this there is no error to be rectified.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now