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(Querist)
09 April 2015 Dear Members

Please make me clear that , payment made to university (Kanpur & Lucknow University) as rent of premises , will covered under tds ??

should bank , tenant , deduct tds on such payment ..

(as per section 10 of income tax act ,income of university is exempt for tax purpose)
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CA. SHIVA SHANKARA R. SHETTY

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CA. SHIVA SHANKARA R. SHETTY (Expert)
09 April 2015 There is exemption for income u/s. 10, but no exemption provided under section 194-I.

Further, TDS on rent will applied only tenant and not landlord or owner as the case may be.

Therefore, tds provisions applies to the tenant.

Being, a bank tds at 10% should be deducted.
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