TDS

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NITIN BANSAL (Querist)
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09 March 2010 If a company takes a house on lease from an employee and gives it back to him for his stay and pays him rent for it.Should the tds be deducted u/s 192 or under sec 194I. Whether rent received by employee will be taxable to him under the head salaries or house property

CA Prashant Gupta

CA Prashant Gupta (Expert)
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09 March 2010 the rent given by company is employees house property income and it will be taxable in that head.
in salary he is getting rent free accomodation so he will be chargeable as per calculation of rent free accomodation.
Now company has both income source. so it will add both in his salary and deduct TDS accordingly. But house property income will not be part of salary.