Income Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2011
We are a manufacturing unit (Partnership Firm)have already Paid (this Year F.Y.2010-11) Rent of Rs. 2,16,000 but the rent devided and paid into three person (Mr.Amit Rs. 1,20,000, Mr. Bimal Rs. 48,000 & Mr.Suren Rs. 48,000) then can we Deducted TDS For Rent both of parties or not
22 February 2011
Hi
Will get back to u with complete wrkngs & Info
Thank you
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITR Hons
Will get back to u with complete wrkngs & Info
Thank you
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITR Hons
23 February 2011
No requirement of deduct tds it is individualy limit of 180000 p.a.
23 February 2011
Hi,
If there is Clear cut division of Shares of Rent which is identifiable, then you could treat the payment as "Rent paid to Co-owners" therefore there will not be any requirement of Deducting TDS on individual amounts, as the Limit is Rs.180000/- p.a.per individual.
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
If there is Clear cut division of Shares of Rent which is identifiable, then you could treat the payment as "Rent paid to Co-owners" therefore there will not be any requirement of Deducting TDS on individual amounts, as the Limit is Rs.180000/- p.a.per individual.
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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