dear colleagues,
ma query is with the rate of tds if a llp is paying rent to nri in his Indian account. rent amount is 35000/- per month
thanks in anticipation
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Tds of nri on rent
Replies (6)
Quick Summary
If the landlord is a Non-resident, the liability to deduct tax arises under section 195 of the Income-tax Act. The rate applicable in this case will be 30% plus surcharge and education cess i.e 31.2%.
I will agree with Sourav, the provisions of Section 195 will apply and the rate of TDS will be 30% + surcharge + cess.
Further also look into the DTAA with the respective country of residence of NRI
Thank u.. how can I check for DTAA?
DTAA is the lower of tax rate of India and Foreign rate. Foreign tax rate should be ascertain for DTAA
What if the nri has income below taxable limit?
Then there will be no tax liability
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