If the rent paid per month is 9000/- for six months & 11,000/- for rest of the year for financial year 2009-10 whether TDS u/s 194I be deducted on 66,000/- or on 1,20,000/-.
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TDS
Replies (3)
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
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