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Tds 194i rent

Tax queries 943 views 6 replies

Akhil Kumar

Finance Professional

45 Points Joined May 2014

If a person pays a rent of 1lakh for plant and 1,10,000 for building (total: 2,10,000) to X, whether TDS u/s 194I applies?

I want to know whether limit of 1,80,000 is available seperately for

(a) plant, machinery and

(b) land, building, furniture

or is it for both (a) and (b) together ?

Replies (6)

The payment shall be seen for as made to person wise and not as property wise. Therefore you are required to deduct the tax at source provided your total payment excedds Rs 180000/- p.a. Section 194I defines the different class of properties for the sake of rate of TDS only

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

anant is correct. tds limit is to be checked person wise and not category wise. so if 210000 is being paid to a single person then tds is reqd. to be deducted.

NILA REJESH P

Chartered Accountant

815 Points Joined October 2009

TDS on Gross rent.

Siddharth

Article Assistant

111 Points Joined February 2013

TDS should be deducted on thew value excluding service tax

Tarun Garg

Business

22 Points Joined June 2014

If rent is paid 300000rs. To 2 persons x and y.150000rs. Each. Than tds will be deducted for that ?

Guest

Any person, other than an individual or a HUF, is responsible for paying to resident in India, any income by way of the rent, amounting in aggregate to more than Rs. 180000 in a financial year. However w.e.f. 01/06/2002, individuals and HUF who were covered under section 44AB (a) and (b) in the preceding previous year, are also required to deduct tax at source.