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TDS U/s 194I Rent
I'm an individual liable for tax audit and I'm paying rent to my Landlord (please note there are 5 Lessors) for 3 shops and 1 godown. The monthly rent is 8500, 8500, 9250 for 3 shops and 25000 for the godown. The landlord has joint account so I give them 4 cheques for the rent amount mentioned above. Do I need to deduct TDS for the same? Please guide. Any supporting case laws will be highly appreciated. Thank you.
Replies (3)
TDS is based on rent to single person for single property. So I think in your case, there is noTDS required except for 25000.
Then as per my understanding, TDS is not required to be deducted for 25000 also, as it is divided among 5 persons. Please guide.
Sachinji...u r right..
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