TDS on Rent
This query is : Resolved
07 July 2008
Two Agreement with the same party of less than Rs. 120000/- each (say Rs.119999/-each) would attract the liability to deduct the tax.
07 July 2008
no
08 July 2008
In my opinion Tax is deductible at source as Section 194I says that Tax is to be deducted in a case where the rental income paid exceeds or is likely to exceed Rs 1,20,000/-. In the given case the aggregate Rental Income paid will be 2,39,998/-
08 July 2008
IT IS PER PAYEE AND NOT PER AGREEMENT
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