TDS deduction
(Guest)
If there is rent agreement for Rs. 22000 pm. Amount is paid in two accounts 11000 each. Whether TDS needs to be deducted?
3 Replies
Kriti Sharma
(student)
(53 Points)
Replied 06 September 2019
Accounts doesn't matter. PAN matters. If the PAN in both accounts is same then TDS will be deducted @ 10%.
Kapadia Pravin
(17264 Points)
Replied 06 September 2019
Under section 194I ---
TDS on Rent in case of Businesses and Professionals required to get Tax Audit conducted. TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 2,40,000 p.a. This limit of Rs. 2,40,000 p.a. is per taxpayer per annum.
If you pay rent to a person by way deposit into two bank accounts of that person, it is considered as payment to single person only. So 11000 × 2 won't be helpful.
TDS on Rent in case of Businesses and Professionals required to get Tax Audit conducted. TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 2,40,000 p.a. This limit of Rs. 2,40,000 p.a. is per taxpayer per annum.
If you pay rent to a person by way deposit into two bank accounts of that person, it is considered as payment to single person only. So 11000 × 2 won't be helpful.
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