I am paying 20000/- per month as rent for rented apartment, should I deduct 10% tds form it?
Menu
Tds deduction form rent
Replies (6)
If you are not an individual or HUF assessee then and if total rent payable for the lease period exceeds 180000 then yes, you are required to deduct tax @ 20%.
| Originally posted by : nerve nerve | ||
 |
I am paying 20000/- per month as rent for rented apartment, should I deduct 10% tds form it? |  |
As per Income tax act , no need to deduct tax.
Deduct TDS @ 10 if whole rent payment for the year is more than 180000/-. here is 20000*12=240000/-
second thing is that deduction will be made by individuals and huf only when they're in tax audit
Otherwise need not to deduct.
ur not tax audit not required to deduct tds.
second thing is that deduction will be made by individuals and huf only when they're in tax audit
Otherwise need not to deduct.
ur not tax audit not required to deduct tds.
A person (not being an individual or HUF) is liable to deduct TDS @ 10% u/s 194I on rent payable provided total rent payable in the whole year is more than Rs. 180000/-. Also, If an individual or HUF to whom tax audit is mandatory, is liable to deduct applicable TDS on rent.
Agree with above opinion except Karan
If you are individual & tax audit is not applicable for you then need not to deduct TDS even it crosses the limit (Rs1,80,000) as per 194I.
Recent Topic
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
Related Topics
CAclubindia
