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TDS on Rent
I have to pay Rent Rs 3 lacs +GST 54000...i e total of Rs 3.54 lac...Please guide me how much TDS is to be deducted under Income Tax Act..10% on 3.54 lacs or on basic Rent amount 3 lacs.
Replies (7)
Over basic amount 3 lakhs.
Thanks sir for guidance and help
YOU ARE LIABLE TO DEDUCT TDS U/S 194I AT THE RATE OF 10% ON THE BASIC AMOUNT OF RENT ...I.E. WITHOUT GST..
You have to deduct TDS on 3,00,000 and not on 3,54,000.
tds to be deducted only on assessable value
tds deducted only basic value
TDS IS REQUIRED TO BE DEDUCTED ON BASIC VALUE (WITHOUT GST). But why you need to pay gst on the same as you are the receiver and RCM is not applicable to you as of now?
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