Dear Experts,
I have a query about TDS on rent in case of joint owners:
Total Rent agreement is for Rs.70,000 month, it is with 2 owners, each getting rent Rs.35000 per month, with their separate PAN.
TDS is applicable on rent above Rs.50000 per month in FY25-26.
Query is:
In this case total agreement falls in bracket of above Rs.50000 per month rent, but individual rent is below Rs.50000 per month as each owner is getting Rs.35000 per month, so TDS applicable or not?
Please guide.
TDS deduction is not mandatory in this case as the rent doesn't exceeds the limit for any individual.
Still tds is applicable
Not applicable aa it is 35k per landloard
Thank you Dhirajlal ji for your clear reply.
R P S K & Associates
Nashik
CA Inter
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