Tds on rent

Follow 14 Replies

Start a discussion Unanswered

anshul tiwari (Student CA IPC / IPCC) 14 November 2019

If any propertier of business want any house for rent purpose then how can he make payment
Can he pay rent from from
Or
Pay individually

CCI Online Learning

CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more. know more

Dhirajlal Rambhia (KVO Merau Kutchh) 14 November 2019

If its not utilized for business purpose, pay it from personal/savings account & not from business/current account.

BTW.... Has he obtained TAN? or is he liable for deduction of TDS as per his preceding year turn over?

If not? no need to deduct unless rent is Rs. 50,000/- pm or more..

If yes, need to deduct TDS if rent is Rs. 20,000/- pm or more...

Whatever be the payment mode...

2 Like

RAJA P M ("Do the Right Thing...!!!") 14 November 2019

@ Mr Anshul Tiwari.,

Your query is not cleared...

Are you taken the House for Business purpose or Residential purpose...??

2 Like

anshul tiwari (Student CA IPC / IPCC) 15 November 2019

House for business purpose rent around 1 lakh per month

sai prasath 17 November 2019

Assessee liable to deduct Tds on rent @ 10% under sec 194I.

RAJA P M ("Do the Right Thing...!!!") 17 November 2019

Deduct TDS u/s 194I @ 10%

Kapadia Pravin 18 November 2019

TDS @ 10% under 194I is required to be deducted on rent payment ( amount of rent in aggregate exceeding 240000/- in FY) ) ...........

.......BUT ONLY WHEN individual proprietor was subjected to 44AB audit during the FY immediately preceeding the FY in which such tent is credited or paid.

Otherwise TDS @ 10% under 194I is not at all applicable to individual proprietory assessee.

-----
Reply - simply deduct .... without support .. ??? isn't it confusing ?

RAJA P M ("Do the Right Thing...!!!") 18 November 2019

Ha ha ha ha ha...

I think You are Happy after criticize to me... right...? If not I'm very sorry. Better to try more more criticize to make happy Yourself...

I'm waiting...

Kapadia Pravin 18 November 2019

I am sure yesterday you must have felt happy time after you blasted sceptically.

But nobody got any fun from that funny post .
I don't know what are you ?
Practice at home what you wrote yesterday. Now don't waste my time and do ha ha ha @ home.