Section 194I of Income Tax Act

Nitin (CA Final Student) (78 Points)

06 April 2010  

Hi.. Plz help..

U/s- 194I, TDS on Rent has to be deducted if such rent payable to a person exceeds Rs.1,20,000/- in PY.

What if the payment is made at Rs.70,000/- each to the 2 Co-owners of the one building?? Is TDS still to be deducted for both??