21 February 2011
We are a manufacturing unit (Partnership Firm)have already Paid (this Year F.Y.2010-11) Rent of Rs. 2,16,000 but the rent devided and paid into three person (Mr.Amit Rs. 1,20,000, Mr. Bimal Rs. 48,000 & Mr.Suren Rs. 48,000) then can we Deducted TDS For Rent both of parties or not
If there is Clear cut division of Shares of Rent which is identifiable, then you could treat the payment as "Rent paid to Co-owners" therefore there will not be any requirement of Deducting TDS on individual amounts, as the Limit is Rs.180000/- p.a.per individual.
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