Tds 194i rent

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Finance Professional
27 Points Posted on 18 June 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 ?

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On 18 June 2014 at 18:45 Report
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Service
99 Points Posted on 18 June 2014

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

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On 18 June 2014 at 19:02
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Student as well as Self-employed
3853 Points Posted on 18 June 2014
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.
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On 18 June 2014 at 23:27
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Chartered Accountant
669 Points Posted on 19 June 2014

TDS on Gross rent.

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On 19 June 2014 at 10:54
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Article Assistant
114 Points Posted on 19 June 2014

TDS should be deducted on thew value excluding service tax

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On 19 June 2014 at 17:07
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Business
22 Points Posted on 22 June 2014
If rent is paid 300000rs. To 2 persons x and y.150000rs. Each. Than tds will be deducted for that ?
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On 22 June 2014 at 15:30
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Guest

Posted on 23 June 2014
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.
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On 23 June 2014 at 12:47

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