Tds on rent
I am paying rent 16000p.m. to my father. Does tds deductible as it crosses 180000 but my father is not required for tax audit.. what should I do???
Replies (15)
Rent is being paid by you... so check is audit applicable for you...
Not on ur father
Agree with Ca Ankit..
TDS is required to be deducted by you while making payment if you are Audited assessee..
No TDS for residential purpose...............
Tds provisions in case of invifuals will be applicable if you are liable to audit of your accounts.
As far i can remember. I dont agree with CA Parul that Tds not applicabke for residential purposes. There's no such provision excluding tds liability on rent paid for residential purposes
Mr. Vaibhav you will have to deduct TDS if u were subject to Tax Audit for FY 2013-14
Tds is deductible provided rent payable in the fy exceeds 1.8 la
vs.
No need to deduct TDS
TDS is deductible U/s 194 I on rent payable by you if you are auditable U/s 44AB and if the summation of your rent for the whole financial year exceeds Rs.1,80,000/-
TDS NOT Applicable in ur case
TDS deductible.Whether it's a residential property or commercial.
Hi .
If you want to deduct tds on whatever amount before that you should have TAN.
hello agree with anand chaudhary
Thanks all of you for your response
I am also not covered under tax audit
I am a salaried employee
Please reply now
Thanks in advance
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
