tds deduction on rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2009 An individual is the proprietor of two firms. He has taken on rent two different properties in each firm from the same landlord. The monthly rent for each property is Rs 7000/- and booked in each firm seprately. Is he requie to deduct the tds on rent even though rent paid from each firm is less than Rs 120000/- pa but together more than Rs 120000/- Assuming he is under tax audit.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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15 December 2009 No TDS applicable if your Rent Payment is not more than 1.2 Lakhs even your both rent Payment combinedly crossed the limit of 1.20 Lakhs. in base of your rent Payments party is different from each other.