TDS on building rent ?

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7 Points Posted on 21 June 2021
I'm registered individual paying Rent 40000 per month can I liable to deduct TDS on rent payment
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On 21 June 2021 at 23:22 Report
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This discussion clarifies the rules around Tax Deducted at Source (TDS) on rent payments. For individuals paying rent over £240,000 per financial year, TDS deduction under Section 194-IB might be required. However, if you are not liable for audit under Section 44AB, you may not need to deduct TDS. The threshold limit for Section 194-I is crucial in determining your obligation.

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20 Points Posted on 22 June 2021
Not required to deduct as per 194-IB
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On 22 June 2021 at 00:02
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Chartered Accountant
24588 Points Posted on 22 June 2021
TDS should be deducted under section 194I as it exceeds threshold limit of 240000 rupees in a FY
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On 22 June 2021 at 06:01
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CMA
13117 Points Posted on 22 June 2021

If you are not liable for audit u/s 44AB, then not required else required to deduct tax at source u/s 194I @ 10%

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On 22 June 2021 at 08:17
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2742 Points Posted on 22 June 2021
If you have turnover exceeds Rs. 1 Cr in PY then TDS is required to be deducted.
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On 22 June 2021 at 09:33
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Profession Business
28246 Points Posted on 23 June 2021
SEC 194 I threshold LIMIT is essential.
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On 23 June 2021 at 09:52
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Practice
1361 Points Posted on 24 June 2021
Agree with poornima ji.
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On 24 June 2021 at 00:06
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Chartered Accountant
24588 Points Posted on 14 July 2021
Agree
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On 14 July 2021 at 09:32

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