What wiil be the TDS rate on follwing.....

Hello,

If some industrial property is given on rent and the agremment language says
that.....
This rent agreement is made at Delhi, on ......day ,M/s ABC firm at........(Address of the firm)through its propiertor Mr XYZ(First party)  s/o ...... r/o.......

AND

(Second party) MR PQR   s/o....R/o...
and so on....

Now my query is that will the TDS on rent be deducted according to TDS on rent
(i.e 15.45%) or TDS on firm(20.00%)and can the cheque be taken  in favor of propiretor name ?

(Pls its very urgent)

Thnx in adv

 

Replies (3)

If Deductee who deduct TDS is proprietorship then TDS Rate is 15% + Surcharged 10% (if applicable) + Education Cess 3%

If Deductee is Partnership then TDS Rate is 20% + Surcharged 10% (if applicable) + Education Cess 3%

what is the tds rates

Aniket is correct

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