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Tds on rent paid to the bank

ramesh (ca) (140 Points)

19 December 2016  
Dear experts whether TDS required to do on rental payments made to bank for using its premises .

 3 Replies

Nitin Bhuta (Chartered Accountants) (688 Points)
Replied 19 December 2016

Yes TDS to be deducted u/s 194I of the Income Tax Act 1961 as per the limits specified if you are liable to get yourself audited u/s 44AB/44AD of the Income Tax Act 1961.

Arpit Kakar (Article) (161 Points)
Replied 19 December 2016

  1. Applicable Section: Section 194I
  2. If you are Ind'l/HUF and subject to tax audit or any other person: Tax to be deducted.
  3. Rate of Tax: P&M: 2%, Others: 10%



Arpit Kakar

Tax Expert; thakurani.in

1 Like

Vishal Goel (Chartered Accountant) (1688 Points)
Replied 21 December 2016

One more point..

TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 1,80,000 p.a. This limit of Rs. 1,80,000 p.a. is per taxpayer

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