I have given my flat in Mumbai, on Rent to a married couple, who are both working in different organisations. The Rent is 80,000 p.m. The couple is entitled to HRA from their respective organisations and hence wish to pay Rs 40,000 each separately towards the monthly rent.
My question is are the tenants required to deduct TDS? The total rent is obviously more than Rs 50,000 p.m. (because of which TDS should be there), although individually they are paying Rs 40,000/-p.m. only (so TDS is not applicable)...
Appreciate guidance.
CAclubindia
