Confusion on tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2016 Hi Experts

Mr. A & Mr. B owns a property in his name and charges Rent @ 25000/- P.m from a firm. (Equally share)

Mr. A & Mr. B owns another property in his name and charges rent @ 115000/- p.m from another firm (Equally share)

Query- Whether TDS would be applicable in both cases?
Or Only TDS will be applicable under scenario of Rent @ 115000/- P.m as it crosses threshold limit of Rs. 1.80Lacs

Whether it should be considered per Payer wise or consolidated amount will be considered for threshold limit

Please advise.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 June 2016 Only TDS will be applicable under scenario of rent @ 115000/- pm as it crosses threshold limit. The threshold limit is per payer.

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Ganeshbabu K

Ganeshbabu K (Expert)
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08 June 2016 Threshold limit is only a creteria for person who makes payment of rent,

So if total payment to each cowner exceeds threshod limit he has to deduct TDS , he dont need to bother about how many properties he owns

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Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2016 Thanks Experts!

Now m clear with the provision.