Query on 194I

PRABEER YOUR ATTEMT ON MAY 09 ?

So ???

Mr.Prabeer Sarkar, If Mr.Z is going to claim the rent paid to Mr.Y as an expenditure, then Mr.Z is liable to deduct TDS on Rent paid or provided u/s.194I  at applicable rates, if such amount exceeds Rs.1,20,000.00.

Thanks Mr. M.Sriram Shenoy.

 Z  claim amount paid to Y as rent expense in his books , then he has deducted the TDS on the amount  paid or credited as rent to Y (the amount should be  exceeds Rs.1,20,000)

TDS has to be deducted.

TDS HAS TO BE DEDUCTED

X Ltd. has let out his property to Y Ltd. and Y Ltd. get Reimbursement of Rent from Z ltd. Whether Z Ltd. is liable/accountable to deduct TDS on payments made to Y ltd. ? If Yes at how Much rate ?

for the companies the TDS rate is 20.6% and for individual it is 15.45%.

its 22.66% for Companies- rent of immovable property & furniture.

plz. read it  care fully ? i m asking about reimbursement of Expenses.