Dear sirs
our company have an office on rent and the property belongs to three unregisted persons so we pay them as 13500, 13500 & 13000.
Is rcm & tds would liable on this????
Menu
Rcm on rent
Replies (1)
GST under RCM applicable as service received from unregistered person, but RCM is suspended till 30June, so there is no GST liability.
TDS- TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 1,80,000 p.a. This limit of Rs. 1,80,000 p.a. is per taxpayer. So in case, there are 3 co-owners of an asset, this limit would apply for each co-owner i.e. TDS on Rent is liable to be deducted if payment to each co-owner exceeds Rs. 1,80,000 p.a.
In your case, No need to deduct TDS as limit for each co-owner of 180000/- does not exceeds.
TDS- TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 1,80,000 p.a. This limit of Rs. 1,80,000 p.a. is per taxpayer. So in case, there are 3 co-owners of an asset, this limit would apply for each co-owner i.e. TDS on Rent is liable to be deducted if payment to each co-owner exceeds Rs. 1,80,000 p.a.
In your case, No need to deduct TDS as limit for each co-owner of 180000/- does not exceeds.
Recent Topic
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
- Professional advance taxes
- Surrender pan process
- Tds on deceased's pan
- Exempt income declaration schedule EI in ITR2 (AY2
- Mold cost invoice in GST return
Related Topics
CAclubindia
