TDS ON RENT IN APR TO JUN'10, IF RENT IS 10450/-P.M

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Sir ,please let me know whether TDS on rent is applicable on rent payment of April'2010 to June'2010 , if monthly rent  is Rs.10450/- p.m?

 

RANJAN

Replies (5)

As per my thinking you should deduct TDS @ 10% from April Onwards that your annual rent goes upto Rs.125400/- ( Rent Cut off Limit is 120000/- )

Hi Ranjan,

First  you Check what was the Total Rent amount which is paid during the period 2009-2010. If it exceeds Rs.120000.00 then TDS to be deducted On the Rent Amt Rs.10450 till June,10

First  you Check what was the Total Rent amount which is paid during the period 2009-2010. If it exceeds Rs.120000.00 then TDS to be deducted On the Rent Amt Rs.10450 till June,10

this is not the case....u need to deduct TDS only when total payment exceeds Rs 180000 in a year (earlier Rs 120000 till june 2010) so in ur case u have paid amt which is less than 120000 or 180000 ...so no need to deduct TDS till june 2010...& it has nothing to do with last year payments !

Dear Sahil,

Limit of Rs.180000 apply from Juy,10 & Limit of Rs. 120000 is valid till June,10.........

Now.we come back on query tds deducted or not.........Tds to be deducted if the last year payment exceeds Rs. 120000 because during that we already deduct TDS thats why last year Payments Matters.......

Again if Last Year Payments doesn not Exceed Rs.120000 then no TDS to be deducted on Rs 10450. untill it cross the limit of Rs. 180000.00


CCI Pro

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