Tds rate for rent

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380 Points Posted on 04 November 2020
we paid monthly 135000 rent for land and building kindly clarify the TDS deduction rate for that rental amount
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On 04 November 2020 at 20:06 Report
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Quick Summary
This discussion clarifies the Tax Deducted at Source (TDS) rate applicable to rental payments. It addresses specific scenarios, including monthly rent exceeding £50,000 and the impact of COVID-19 on TDS rates until March 31, 2021. The conversation also touches upon whether the payer is subject to tax audit under Section 44AB, as this can influence the applicable TDS provisions.

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374 Points Posted on 04 November 2020
10 percent every month should be deducted and deposited by 7th of next month
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On 04 November 2020 at 20:19
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380 Points Posted on 04 November 2020
Above 50000 monthly rent 5% or not
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On 04 November 2020 at 20:31
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Accountant
3662 Points Posted on 04 November 2020
Due to covid situation, TDS @ 7.5% on Rent till 31.03.2021
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On 04 November 2020 at 20:33
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Student CA IPC / IPCC
89 Points Posted on 05 November 2020
Depends.. there are two separate provisions of rent payment for TDS. Are you covered under section 44AB ( ie is limit of tax audit applicable ).
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On 05 November 2020 at 17:14

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