Would TDS u/s 194IB will be attracted if an Salaried individual is paying rent of Rs. 30000 each to two co-owner of the property.
The requirement is to see the total payment of Rs.50000 for deducting TDS or according to payment to Co-owner. Please clarify my doubt.
As per the wordings of the section, it is required to be deducted when rent per month paid to a resident, exceeds 50000/- And no clarification issued over the issue by CBDT till date.
A recent case law u/s. 194-I support the issue as non deduction of TDS when rent paid to individual co-owner did not exceed Rs. 1,80,000/- PM.
But to be on safer side, it has remained practice by professionals to deduct TDS on shared rent when the aggregate rent exceed 50K PM for any single property/agreement.
T R SOOD & CO
New Delhi
CA Inter
View Details
R P S K & Associates
Nashik
CA Inter
View Details
CAclubindia
