I am paying 20000/- per month as rent for rented apartment, should I deduct 10% tds form it?
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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 | ||
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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.
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