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????
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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.
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