Dear all,
I have one doubt in TDS on Rent....
Rent -12000 Per month
Yearly rent -144000
As per old Slab exmeption limits is Rs. 120000 (means from 1-4-2010 to 30-06-2010)
As per New TDS slabe effect from 1-7-2010 exemption limit is 180000
Now we are paying the April month rent Rs.12000, for this amt we have to deduct tds 10% or not ????????
As per my understanding, till 30 June 2010, if actual rent paid are going to exceeds Rs.1.20 Lacs, you will have to deduct TDS and if it is not, no need to deduct TDS.
Naveen Fintech Pvt Ltd
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CAclubindia
