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Tds on rent

MAHESH PATIL (audit assistant) (47 Points)

15 January 2017

we are company ,Whether tds required to made on rent paid of house for 6 months amounted to Rs 145000 in dec 2016 ?

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (195817 Points)
Replied 15 January 2017

As per section 194I, TDS on rent has to be deducted only when aggregate amount paid or to be paid or credited or to be credited exceeds Rs 1,80,000/- during the year. (That too per owner)

1 Like

CA. K George Philip (Partner) (226 Points)
Replied 15 January 2017

TDS on rent is not applicale to your Company as the amount of rent paid/credited per FY is less than Rs.1,80,000.

Sarath Chandra (CA Final Student) (566 Points)
Replied 15 January 2017

As per sec 194I, TDS is applicable if rent paid or credited in a financial year exceeda Rs. 1,80,000. In this case, as the amount exceeds

Sarath Chandra (CA Final Student) (566 Points)
Replied 15 January 2017

As per sec 194I, tds is applicable @ 10% if the rent paid or credited exceeds Rs. 1,80,000. In this case, the amount does not exceed the threshold. Thus, TDS is not applicable.

1 Like

Baljeet Singh (CA, B.Com (H)) (954 Points)
Replied 16 January 2017

Adding to the remarks above, it is to be considered whether your rent payable for the financial year ending 31st march 2017 will cross the INR 180000 threshold or not?

If it will, then TDS is to be deducted starting now, and in case it won't , no deduction is required.

MAHESH PATIL (audit assistant) (47 Points)
Replied 18 January 2017

thanx all as per all ur feedbacks i got to know that tds is not require to make because i m paying rent for 6 months and next 6 months will come after 31 st march 2017