abt tds on rent

This query is : Resolved

Guest

Guest (Querist)

15 July 2008 can any one tell me the new rate of tds on rent(94i)
i cant understand the circular issued in may..
thanks in advance

CA Abhishek Tyagi

CA Abhishek Tyagi (Expert)
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15 July 2008 Dear Varun,

There is no change in the rate of tds on rent u/s 94I. It is same as before. 15% + (surcharge & education cess) in case of individual & 20 % + (surcharge & education cess) in case of corporate assessees. I think you r giving the reference of the circular which is in respect of deduction of tds only on rent portion excluding the service tax. This circular has nothing to do with the rate of TDS.

Guest

Guest (Querist)

15 July 2008 thanks
bt i face the prob abt it as there is diffrence rate aplcbl from may.
i know abt the rate as u have told already
can u clear broadly abt" excluding service tax"

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CA Abhishek Tyagi

CA Abhishek Tyagi (Expert)
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16 July 2008 In that circular it is clarified that the tds to be decuted on the rent only & not on the gross amount of rent including service tax as service tax is not an income of the service provider but the liability of the provider. Give me ur mail id so that i can send u that circular.

Guest

Guest (Querist)

16 July 2008 thanks sir ji
i m now fully clear abt it.. thanks
my mail id..mrvarunca@gmail.com

CA Abhishek Tyagi

CA Abhishek Tyagi (Expert)
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17 July 2008 You can refer to the circular No. 4/2008. I will send it to u.