I have a question,but have confuse & found no answer for the same,"
Q:Suppose i have paid rent for the period 2010-11at the rate @14000/p.m(no tds deducted)- as per aggreement.But agriment expired on 28th feb/11 and as per new aggreement rent has been hiked 5000/- p.m i.e.in total 19K.So that as per IT act tds will exempt up to 180K(Sec.194I),but if i pay new hiked rent taht is 19000 then is taxable and also have cofuse the which amount is taxasble & tds will deducting in which amount?
I.e-14000+5000=19000(tds deduction..5000*10%) or total amt 19000*12=*10%