When we pay rent we deduct TCS or TDS? Experts please help

When we Pay Rent then Deduct TDS not TCS.

TCS is collected on Some Certain thing....If we Sales Forest Timber then we Charge TCS from Purchaser, If Sale Scrap Then Charge TCS Etc...........

Deduct TDS @ 10% from the payments of rent if they exceed Rs 180000 in a year. If it is not exceeding this amount, then no need to deduct tax at source.

TCS is charged from the payee only on certain items mentioned. 

Regards

As the terms suggest themselves, TCS is Tax Collected at Source and TDS is Tax Deducted at Source.  Thus TCS is to be collected on sale of certain items as prescribed and at the rate prescribed whereas TDS is to be deducted on the payment of certain transactions as prescribed and at the rate prescribed.

Rent is a transaction of payment and will attract the TDS accordingly subject to specified limit i.e. beyond the threshhold limit, currently its' Rs.180000/- per anuum.

Further

Rent (Land/Building)- (threshold limit 1,80,000/-) - TDS @ 10% 

Rent (plant/machinery, Equipment, Furniture & fittings)-(threshold limit 1,80,000/-)- TDS @ 2%

Simple TDS ...

as its tax deducted at source.

When we Pay Rent then Deduct TDS not TCS.

TCS is collected on Some Certain thing....If we Sales Forest Timber then we Charge TCS from Purchaser, If Sale Scrap Then Charge TCS Etc.

When we Pay Rent then Deduct TDS not TCS.

TCS is collected on Some Certain thing....If we Sales Forest Timber then we Charge TCS from Purchaser, If Sale Scrap Then Charge TCS Etc.

When we Pay Rent then Deduct TDS not TCS.

TCS is collected on Some Certain thing....If we Sales Forest Timber then we Charge TCS from Purchaser, If Sale Scrap Then Charge TCS Etc.

Can TCS is applicable when goods sold to the final consumer of the product specified in the Rules??

Dear Parth,

TCS is chargeable on certain items and on revenue basis. When you are selling the items to a certain person, you have to collect tax from him by adding the amount in the bill.Hence, TCS will be applicable when the goods are sold to final consumer as well.

Its clear by its very name - Tax Deductible at Source that some amount (at the specified rates) is deducted from the gross amount .......whereas TCS is a tax collectable in addition of the gross amount, further TCS applies only for the specified itmes in the provisions.

So the answer for your question is TDS