Pls confirm tds rate on rent of 60k per month
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Tds rate on rent
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| Originally posted by : prakrut | ||
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Pls confirm tds rate on rent of 60k per month |
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10% on the amount of rent paid/payable without including the service tax.
10 % if rent is for immovable property. 2% if rent is for plant & machinery.
Yes as the amount exceeded RS.180000 as rent the tds provision is applied.If it is a plant and machinery it is 2% for others its 10%.
it is 10% of the rent recived or receivable.
As per Sec 194I 60000*12=720000 720000-180000**=540000 540000*10%=54000 **(180000 IT slab)
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