Tds on rent
This query is : Resolved
13 March 2012
A company is paying rent for staff accommodation to 2 individuals for the same residential premises. Total amount of rent is Rs.2,34,000/-. Should the TDS be made ? Please reply ASAP, urgent
13 March 2012
Yes as far as the recipient is single person and recieves rent more than 180000 (one lakh eighty thousand)
13 March 2012
in the present case recipient receives rent 234000 which is more than 180000.
so, TDS Should be deducted on whole amount i.e., 234000.
so, TDS Should be deducted on whole amount i.e., 234000.
13 March 2012
The rental premise is owned by two individuals jointly and company is paying them in 50-50 proportion. Should the TDS be done now?
13 March 2012
In the given case. threshold limit is not crossed for each individual, so no need to deduct TDS
Message likes :
1 times
14 March 2012
CBDT Circular 715 dtd 8/8/1995 issued to clarify that If there are a number of payees, each having definite and ascertainable share in the property, the limit of Rs. 1,20,000( now the limited increased to Rs.1,80,000) will apply to each of the payee/co-owner separately. The payers and the payees are however advised not to enter into sham agreements to avoid TDS provisions.
I'm agreeing with Ramesh , TDS Threshold limit not exceeded , therefore need not deduct TDS.( providedeach having definite and ascertainable share in the property 50:50)
I'm agreeing with Ramesh , TDS Threshold limit not exceeded , therefore need not deduct TDS.( providedeach having definite and ascertainable share in the property 50:50)
Message likes :
1 times
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
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Darpan registration
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- 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?
- Query for dubts
Trending Online Classes
CAclubindia
