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TDS on rent

Rakhi Mk (11 Points)

05 January 2021

should TDS deducted for monthly rent for INR 11500/- and 15000/- at what percentage?

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5 Replies

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 05 January 2021

Which periods or months

CA Sachin M Jain (CA | GST | Refunds | Advisory | Litigati) (1463 Points)
Replied 05 January 2021

No TDS on Rent Uptill Rs. 2,40,000/-

TDS Rate on Rent of :
Plant & Machinery = 2% (uptill 31.3.201 = 1.5%)
Land & Buildings = 10% (uptill 31.3.201 = 7.5%)

For more details contact -
CA Sachin M Jain

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1 Like

Smit Shah (524 Points)
Replied 05 January 2021

Not liable for tds

1 Like

Balamurali Unnithan MS (STUDENT) (1631 Points)
Replied 05 January 2021

As per sec .194 I - Limt Rs .20000

Krishna Chaudhary (Accountant) (4531 Points)
Replied 08 January 2021

TDS required when annual rent paid is exceeding 240000.
another condition is that it is for the business and you have tax audit in year previous to the last year.
if it is for the personal purpose you don't required to deduct any TDS