Tds on rent

This query is : Resolved 

01 May 2012 WHAT IS LIMIT FOR FY 12-13 FOR NO DEDUCTION OF TDS ON RENT?
& AT WHAT RATE?

01 May 2012 It is Rs. 1,80,000/-

Machinery@2%

Others@10%

01 May 2012 TDS on Rent is deducted under Sec-194I :
For F.Y. 12-13 the rates are-
a)Plant & machinery it is 2%
b)others it is 10%

The limit is Rs. 1,80,000/-


01 May 2012 Yes. Agree with experts. However, if the total rent exceed Rs. 180,000 p.a, TDS has to be deducted on total amount rather than on amount in excess of Rs. 180,000.



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