Tds on rent

There is no need to deduct TDS as you are individual who books are not required to be audited.

Hi, my qerry was about my Bank, who is paying the rent. Whether Bank is liable to deduct TDS  on the above mentioned situation??

In this situation, no as the amount is not exceeding Rs 180000/-. Just want to know whether there is an agreement between you and bank to pay rent.

Yes, I am an employee of the bank. Bank provides lease accomodation facility to its executives. But does not reimburse the full lease amount. In the instant case, Bank pays only Rs 11000/- out of Rs 22000/-. I am of the view that since bank is only incurring an expenditure of Rs 132000/- p.a, rest is being paid by me, TDS need not be recoverred from the monthly rent.

In this case, bank need not to deduct TDS. If the amount paid by Bank exceeds INR 180000, then only Bank is required to deduct TDS.

Thanks a lot. Can u please quote the relevant legal citation or IT circular.

There is no special circular for this. It is just about the understanding of Section 194I.