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TDS on Rent

rudram77 (Assitant Accounts Manager) (166 Points)

22 January 2010

Is TDS is applicable on Rent?

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19 Replies

CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
Replied 22 January 2010

yes. TDS on rent is applicable as per section 194i

Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
Replied 22 January 2010

Y applicable u/s 194J if total rent is above 1.20 Lakhs

C.Balaji (Learner) (1867 Points)
Replied 22 January 2010

Mr.Deepak

It is applicable u/s 194 I...

Payment made during the F.Y. aggregating up to Rs.1,20,000/-

Time of Tax deduction - At the time of payment or accrual, whichever is earlier

If recipient is Individual or HUF - 15% (plus S.c and Cess)

In any other case - 20% (plus S.c and Cess)

ajay lohiya (article) (69 Points)
Replied 22 January 2010

yes , TDS is applicable on rent under section 194I . if it`s payble to an individual then it`s was charged @ 10%+3%. if payble to a company then it was dedcuted @ 20%+3%+(10% surcharge, if applicable)

limit foe dedcut TDS Rs.120000/ P.a.

Shudhanshu Agrawal (Business) (2570 Points)
Replied 22 January 2010

Originally posted by : C.Balaji
	Mr.Deepak It is applicable u/s 194 I... Payment made during the F.Y. aggregating up to Rs.1,20,000/- Time of Tax deduction - At the time of payment or accrual, whichever is earlier If recipient is Individual or HUF - 15% (plus S.c and Cess) In any other case - 20% (plus S.c and Cess)

Dear Balaji,

I want to correct you about the rates of TDS u/s 194I. From Oct1, 2009 onwards TDS rates are

For use of any machinery or plant or equipment 2%

For use of any land or building or furniture or fittings for all persons 10%

And no further Surcharge, EC and SHEC is applicable.

One more thing while taking gross amount of rent, service tax is reduced as for this a notification has already come in 2008.

bhagyalakshmi (learner) (141 Points)
Replied 22 January 2010

yes shudhanshu is right

kaushik (service) (125 Points)
Replied 22 January 2010

Yes ,surcharge ,educational cess and secondary ed cess is not applicable from 01.10.2009 and consolidated revised chart collected from ca club member is enclosed for your ready reference.

Attached File : 10 38 revised tds rate chart fy 2009 10.pdf downloaded: 204 times