TDS APLICABLE

If a salaried person is paying Rent of Rs.15000/- p.m. is it compulsory for him to deduct TDS and pay the Rent,

is there any penalty if he doesn't dedcut TDS.

Replies (3)

Hi,

this provision of tds is not applicable to Individual and HUF.

A salaried person is  not covered under business and profession.

disallowance is only in case where ur income is accessible as business income. Hence, no need to deduct tds from the person..

 

Originally posted by : sagar

Hi,

this provision of tds is not applicable to Individual and HUF.

A salaried person is  not covered under business and profession.

disallowance is only in case where ur income is accessible as business income. Hence, no need to deduct tds from the person..

 


Also,  NOT ONLY if the assessee is engaged in business, the point is if he had received/accrued an income of more than Rs.40/Rs.60 Lacs in the immediately preceeded FY, then only the Assessee is liable to Deduct TDS.

Say for Eg.   if a salaried individual, get consultancy income of about Rs.30 lacs , then he is NOT LIABLE to deduct TDS AT ALL.

 

Hope the above points cleared your doubt.

Siva,

if u are assessed as business income then only disallowance is coming . it is not that only tax audit cases u will deduct tds.

I agree that if u have other income other than salary and if u are paying rent for that business, then only tds is required to be deducted.

 

thanks siba

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