Tds on rent of unit transferred

TDS 264 views 1 replies

divyansh agarwal

24 Points Joined January 2014

A company was paying rent of Rs 30000 to an individual. Individual transferred the ownership of the place to her daughter who is a major. Unit was transferred in MArch, 15. So tds amount didn't exceeded the exemption limit i.e. 180000 for her daughter. should TDS still be deducted on 30000 or not ?

Replies (1)

Guest

Do you mean to say that you deducted TDS on Rs 30000*11=330000 rent paid to father but want to know whether to deduct on Rs 30000/- rent paid to daughter?

TDS provisions on rent [194 I] are applicable based on the PAn of the deductee( personwise), so in this case no TDs needs to be deducted on the 30000/- paid to daughter.