Under section 194i (rent)
This query is : Resolved
17 March 2012
dear sir,
one of my client has taken two building on rent from a single landlord at different places. and the amount he is paying is one lakhs for each building annually.
wether he is liable to deduct TDS U/S 194I?
one of my client has taken two building on rent from a single landlord at different places. and the amount he is paying is one lakhs for each building annually.
wether he is liable to deduct TDS U/S 194I?
17 March 2012
Yes, because 194I has also to be seen by payee wise.
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17 March 2012
One building or 2 buildings have not been defined under the act. The act provides for monthly rent which is above the prescribed limt and hence you are liable to deduct TDS on the amount excluding service tax
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