DEAR SIR/MADAM,
IF WE PAID FOR RENT FOR M/O JULY 2015 OF RS. 16000 FOR MUMBAI BRANCH RENT, BUT IN TWO PARTS, FIRST PART PAID TO MR. A OF 8000RS. & SECOND PART PAID TO MR. B OF RS. 8000RS. SO MY QUESTION IS, IN THIS SITUATION, IS TDS NOT BE DEDUCTED ON RENT OF RS.16000.
TDS is applicable for both the cases on crossing the threshold limit of Rs.1.8 lacs
Where there is one or more owners for a property and when such property is let out:
The threshold limit will be doubled.
You have to deduct tax at source only if the rent payments to each individual crosses Rs 180000 in a financial year
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