Tds on rent????

Does the rent exceed the maximum limit ? and if it exceed then , yes , you need to deduct and pay tax with interest

yes you need to deduct and pay

lets take it this way.. For sept , 70000 paid.- No TDS because of the limit of  180000/- p.a. For Oct, again Rs70K paid, - total 140k, below 180K- so No TDS for Oct also.. Here comes- Nov 2015 payment of 70 K rent. the aggregate , here exceeds the limit of 180K. So make TDS for all the three months here and pay TDS. File the quarterly return for III quarter with the same data. No delayed payment.

Originally posted by : shivaji prasad bhimavarapu
	lets take it this way.. For sept , 70000 paid.- No TDS because of the limit of  180000/- p.a. For Oct, again Rs70K paid, - total 140k, below 180K- so No TDS for Oct also.. Here comes- Nov 2015 payment of 70 K rent. the aggregate , here exceeds the limit of 180K. So make TDS for all the three months here and pay TDS. File the quarterly return for III quarter with the same data. No delayed payment.

before giving this advice, you should consider the impact of the first proviso to section 1894-I:

"Provided that no deduction shall be made under this section where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to, the payee, does not exceed one hundred and eighty thousand rupees :"

The lease deed/ rent agreement if covers the likely payment of rent in excess of Rs 1.8 lakhs, then TDS will be applicable in this case from Day 1.

Agreed with @ Nikhil

TDS liability starts from the day the Company enters into Rent agreement since the company knows the Rent payable for the full year exceeds the limit of Rs. 1,80,000/-

You will have to deduct and pay tax in Q3 as suggested initially by @ efiler

Originally posted by : Namit
	Agreed with @ Nikhil TDS liability starts from the day the Company enters into Rent agreement since the company knows the Rent payable for the full year exceeds the limit of Rs. 1,80,000/- You will have to deduct and pay tax in Q3 as suggested initially by @ efiler

well, the rent payment starts in september, the tax has to be paid from Q2