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Tds rent
If tds is not applicable to tenant being an individual then the follwing are the questions...1. In this case the rent paid by tenant is required to be included in the ITR form by owner.2. If yes then tds against this rent amount will be zero. So Income tax deptt may ask why tds has not been deducted by the tenant.Please help and reply.
Replies (1)
TDS is not required to be deducted by tenant unless the tenant is any person except indl and huf. if indl and huf has to deduct TDS if they are covered by 44ab.
tds to be deducted @ 10% under 194I if the aggregate amount of rent exceeds 240000 pa .
tds to be deducted @ 5% under 194IB if the amount of rent exceeds 50000 pm .
tds to be deducted @ 10% under 194I if the aggregate amount of rent exceeds 240000 pa .
tds to be deducted @ 5% under 194IB if the amount of rent exceeds 50000 pm .
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