Income Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
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
22 February 2011
Hi
Will get back to u with complete wrkngs & Info
Thank you
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITR Hons
Will get back to u with complete wrkngs & Info
Thank you
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITR Hons
23 February 2011
No requirement of deduct tds it is individualy limit of 180000 p.a.
23 February 2011
Hi,
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.
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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.
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
