TDS applicable or note

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729 Points Posted on 11 March 2022
Dear Sir

Annual rent Is Rs.3 lac 50thousand

so please suggest Need to deduct TDS or not
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On 11 March 2022 at 13:50 Report
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This discussion clarifies whether TDS needs to be deducted on godown rent. Generally, TDS is not required if the monthly rent doesn't exceed £50,000. However, if your business was liable for an audit in the previous financial year, you must deduct TDS at 10% under Section 194I, regardless of the monthly rent. The applicability also depends on whether the landlord is an individual or a business entity.

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141 Points Posted on 11 March 2022
Only in case of individual whose books of accounts are required to be audited
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On 11 March 2022 at 14:26
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CFO- at NHTF
58280 Points Posted on 11 March 2022
Audit is not required..You may need to file ITR
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On 11 March 2022 at 18:54
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729 Points Posted on 11 March 2022
Sir, i am asking we have hire godown on rent so can we need to deduct TDS on Godown owner Annual rent amount 3.50 Thousand
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On 11 March 2022 at 22:19
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141 Points Posted on 11 March 2022
No requirement of deduction of tds if per month rent not exceed 50000 p.m.
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On 11 March 2022 at 22:36
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Profession Business
28246 Points Posted on 12 March 2022
How is the landlord accepting payments?
Cash or bank.
rental receipt is being given or not.
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On 12 March 2022 at 08:27
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Chartered Accountant
5010 Points Posted on 12 March 2022

If you are liable to audit in teh previous FY then TDS have to be deducted at the time of payment of rent @ 10% u/s 194I

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On 12 March 2022 at 13:36
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CFO- at NHTF
58280 Points Posted on 12 March 2022
Especially in the case of Tds on rent , there different rates for Audit & Non Audit cases ..

You have to confirm whether you are Individual of salary or business entity
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On 12 March 2022 at 20:16
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Account manager
533 Points Posted on 13 March 2022
Deduct Tds @ 10% (194I)
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On 13 March 2022 at 15:40
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CFO- at NHTF
58280 Points Posted on 13 March 2022
If you are salaried category then Tds is not applicable ..
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On 13 March 2022 at 17:44

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