TDS on Rent

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

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

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)

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.

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.

yes shudhanshu is right

 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.

S.... completely agree with Mr.Shudhanshu....

Thanks for correcting me......

S.... completely agree with Mr.Shudhanshu....

Thanks for correcting me......

dear frnd ple. see the attached rate chart of TDS

best ans sudhanshu

wrong ans by deepak tapse

Yes dude TDS is applicable on Rent with revised rate.

 yes 194I

 yes tds on rent is applicable u\s194I if the rent paid is more than rs.120000

new rate of tds for the ay 10-11 is 10% on house renting

& 2% is on renting of plant,machinery,furniture etc