TDS
This query is : Resolved
27 October 2010
This is a case of a property owned by more than one person i.e. there are joint owners.
So Rent payment is Rs.60000/- which is divided as
Jt. Owner 1 - Rs.30000
Jt. Owner 2 - Rs.15000
Jt. Owner 3 - Rs.15000
So as per present TDS rates from whom TDS will have to be cut.
Is the limit of TDS seen payment wise of expenditure i.e. Rs.60000 in our case or the payment received by receiverwise i.e. Rs.30000, Rs.15000 and Rs.15000 in our case.
So Rent payment is Rs.60000/- which is divided as
Jt. Owner 1 - Rs.30000
Jt. Owner 2 - Rs.15000
Jt. Owner 3 - Rs.15000
So as per present TDS rates from whom TDS will have to be cut.
Is the limit of TDS seen payment wise of expenditure i.e. Rs.60000 in our case or the payment received by receiverwise i.e. Rs.30000, Rs.15000 and Rs.15000 in our case.
27 October 2010
PAYMENT RECEIVED BY RECEIVERWISE.......AND TDS IA APPLICABLE ON OWNER 1 AFTER 01.07.2010
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