Confusion on tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2016
Hi Experts
Mr. A & Mr. B owns a property in his name and charges Rent @ 25000/- P.m from a firm. (Equally share)
Mr. A & Mr. B owns another property in his name and charges rent @ 115000/- p.m from another firm (Equally share)
Query- Whether TDS would be applicable in both cases?
Or Only TDS will be applicable under scenario of Rent @ 115000/- P.m as it crosses threshold limit of Rs. 1.80Lacs
Whether it should be considered per Payer wise or consolidated amount will be considered for threshold limit
Please advise.
Mr. A & Mr. B owns a property in his name and charges Rent @ 25000/- P.m from a firm. (Equally share)
Mr. A & Mr. B owns another property in his name and charges rent @ 115000/- p.m from another firm (Equally share)
Query- Whether TDS would be applicable in both cases?
Or Only TDS will be applicable under scenario of Rent @ 115000/- P.m as it crosses threshold limit of Rs. 1.80Lacs
Whether it should be considered per Payer wise or consolidated amount will be considered for threshold limit
Please advise.
08 June 2016
Only TDS will be applicable under scenario of rent @ 115000/- pm as it crosses threshold limit. The threshold limit is per payer.
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08 June 2016
Threshold limit is only a creteria for person who makes payment of rent,
So if total payment to each cowner exceeds threshod limit he has to deduct TDS , he dont need to bother about how many properties he owns
So if total payment to each cowner exceeds threshod limit he has to deduct TDS , he dont need to bother about how many properties he owns
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1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2016
Thanks Experts!
Now m clear with the provision.
Now m clear with the provision.
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