TDS ON RENT OF BUILDING

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673 Points Posted on 10 June 2020
my client is not liable for Tax audit and paying rent Rs.56,000 PM. is he liable to deduct TDS @ 5% or 10% since the annual rent more than 2,40,000.
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On 10 June 2020 at 13:40 Report
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If your client's annual rent exceeds £2,40,000 (i.e., over £50,000 per month), they are liable to deduct TDS. The applicable TDS rate is 5% under Section 194-IB. This TDS must be paid using a single form cum challan, filed either in the last month of tenancy or by the end of the financial year.

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8 Points Posted on 10 June 2020
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On 10 June 2020 at 13:49
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Accountant
108 Points Posted on 10 June 2020
Yes pay tds 5%.
single Form cum challan to be filed in last month of tenancy or ending of last month of financial year.
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On 10 June 2020 at 15:06
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16 Points Posted on 10 June 2020
TDS is deducted @ 5% under section 194-IB since Rent exceeds ₹50,000/- p.m.
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On 10 June 2020 at 16:01
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Student
1321 Points Posted on 10 June 2020
Deduct tax @ 5%
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On 10 June 2020 at 16:17

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