Is tds applicable on rent if the person concerned is exempted u/s 10 (26aaa) of it act???
Replies (2)
Quick Summary
This discussion explores whether Tax Deducted at Source (TDS) is applicable on rent payments when the recipient is exempt from income tax under Section 10(26AAA) of the Income Tax Act. While TDS is generally applicable, a Guwahati High Court judgment suggests that if the income itself is not subject to taxation, the requirement to deduct TDS may not arise. The query seeks clarification on this specific scenario.
But as income earned is not subject to income tax whether we can deduct tds. a guwati hc judgement has indicated that if income is not subject yo taxation hence applicability of tds doesnt arise. kindly explain the issue...
Leave a Reply
Your are not logged in . Please login to post replies