Master in Accounts & high court Advocate
9615 Points
Posted on 24 February 2025
TDS (Tax Deducted at Source) applicability on arrears of rent to KINFRA (Kerala Industrial Infrastructure Development Corporation) depends on certain conditions:
Conditions for TDS Applicability 1. *Rent amount exceeds threshold limit*: If the annual rent paid to KINFRA exceeds ₹2,40,000, TDS is applicable.
2. *KINFRA is the recipient of rent*: As KINFRA is the recipient of rent, they should provide their PAN (Permanent Account Number) to avoid higher TDS rates.
3. *Nature of payment*: TDS is applicable on rent payments, including arrears, made to KINFRA. TDS Rates - 10% of the rent amount, if the recipient (KINFRA) provides their PAN. - 20% of the rent amount, if the recipient does not provide their PAN. Compliance - The payer (you) should deduct TDS on the arrears of rent paid to KINFRA, if applicable. - File Form 26Q (TDS return) quarterly, providing details of TDS deducted and deposited. - Issue Form 16A (TDS certificate) to KINFRA, showing the TDS deducted and deposited.