Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2013 If an individual has salary income as well as rental income and receiving rent of Rs. 300000/- p.a. and payer of both the incomes is same i.e. same company is paying rent and salary to the individual then what shall be the manner of deducting tds???? will Tds be deducted u/s 192 on entire income i.e. salary and house property or tds shall be done in respective sections???????? kindly provide your valuable suggestions.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 November 2013 Since the payment nature is different kind of expenses. so TDS on salary will cover under sec.192 & Rent payment will covered under 194I

But as a employer while considering the income of the employee, need to calculate the gross total income. so difference tax will be deducted under 192

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CA Pallav Singhania

CA Pallav Singhania (Expert)
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02 November 2013 Both are different in nature...
TDS has to be deducted in case of Salary U/S 192..
Whereas TDS has to be deducted on rent U/S 194I...

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