Our company paying Flat rent of29000/- p/month - to joint owners. (15000 &14000 )
do we have to deduct the TDS for both the parties or can we deduct TDS only for15000 (since total amount more than180000/- per annum
Please advice.
Regards
Magesh
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TDS on flat rent
Replies (5)
Are you giving one cheque of Rs. 29,000/- or two cheques of Rs. 15,000/- and Rs. 14,000/- with different names? Are you getting two separate rent receipt?
No deduction of tax is required since threshold limit for rent is Rs.1,80,000/- per payee.
| Originally posted by : Mihir | ||
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Are you giving one cheque of29,000/- or two cheques of15,000/- and14,000/- with different names? Are you getting two separate rent receipt? |
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We are paying two different cheques with different Names.
TDS deduction u/s 194I only when rent exceeds Rs. 180,000/- p.a. So you need not deduct TDS, however, the place rented is the same under both the payments. Let others share their opinion.
agree with Mihir
You not need to deduct tds on rent upto Rs. 180000 as per secton 194I of Income Tax Act, 1961
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