If a property is taken for lease for residential purpose ,rent is₹18000 per month ,will it attracts TDS @ ₹1800 per month ?
sumadhura arya (44 Points)
08 August 2018If a property is taken for lease for residential purpose ,rent is₹18000 per month ,will it attracts TDS @ ₹1800 per month ?
Jatin
(Accountant)
(3479 Points)
Replied 08 August 2018
Ashwin Kumar
(168 Points)
Replied 08 August 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 08 August 2018
If you are not indiviadual or HUF & property is for official business purpose then Yes
If your turnover being businessmen exceeds 1cr or being professional exceeds 50Lac then Yes
If you are indic-vidual or HUF and pay rent for residential purpose then No
sumadhura arya
(44 Points)
Replied 08 August 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 08 August 2018
Are you reimbursing Rent amoount to bank?
Or will you reimburse in future?
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 08 August 2018
Yes so you need to reimburse amount entire amount of rent & TDS if bank has deducted
CAclubindia
