One of my client receives rent of rs 24500 pm(10500 for first floor and 14000 for second floor from same tenant. Rent agreement is in the name of my client (Aman).and tenant is going to deduct TDS @ 10%
Please tell me can we request tenant to make payment in 2 parts, one(14000) in name of aman and second (10500)in name of aman 'brother sukhbir
Because of this annual rent in name of both will remain below 180000. So no tds deductible.
Alternatively, should we ask tenant to pay 10500 in cash which can be shown as income of sukhbir, NOT LIABLE TO TDS deduction.
Will tenant agree, coz he will consult his CA too
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SECTION 194I tax planning
Replies (2)
if property is in joint name ( brothers) you can opt for option 1. otherwise no
Depends upon the rental agreement ,you should have two agreements pertaining to each floor in two brothers name.
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