TDS

The TDS on rent U/s.194I will be deducted when the aggregate of Rent exceeds Rs.120000/- in a year . Now w.e.f. 01.07.10 the aggregate limit has been enhanced to Rs. 180000/- a year.In your case, The tds on rent will be deducted on Rs.120000/- provided you have paid rent to one person the whole year.Incase the payment is made to different persons then no tds will be deducted unless the aggregate amount exceeds 120000/- and now Rs 180000/-.

dear friend

total amount of rent paid does not exceed rs.120000 in ur case so u will have no need to deduct tds as per my knowledge because the word used is exceed not equal to rs.120000 so u have no need to deduct tds in this case.

regards

tarun rustagi

yes tds should deduct if aggregate payment is exceed 120000. so u have to deduct the tds 

now w.e.f 1.7.2010 the aggregate value is Rs. 180000.

regards

manish