03 October 2016
I heard from somewhere that the threeshold limit for tds on rent has been increased from 180000
kindly clear my doubt as we are paying rent 20000 per month to our landlord.
and one more question in mind is on which amount we will deduct tds. the amount that exceeds 180000 (240000-180000=60000) or 10% on monthly payment??
kindly help
04 October 2016
No, the limit is same as previous. No, u must deduct TDS on the whole amount(if the amount exceeds 180000 in a year).So as per ur case u must deduct TDS on 20000/- @10% PM.
CAclubindia
