Monthly Rent = 14800/-
Yearly = 177600/-
My owner is in need of some funds, so i am paying him extra two months rent.
So my yearly rent amounts to 2,07,200/-
Should i have to dedcut TDS in this scenario.
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Tds on rent
Replies (5)
No need to deduct TDS
But TDS is applicable on rent above 180000 yearly
Monthly rent above 50,000 ordinary person will liable to deduct TDS other wise No need to deduct tax
Ordinary Person Here Means ?
Rent by Individual / HUF if exceeds Rs. 50,000 per month then only TDS @ 5% is to be deducted.
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