Tds on furniture rent
This query is : Resolved
20 September 2016
If in one contract one person is giving flat rent 5k p my. & another one is giving furniture rent 26 k p my. If Tds applicable then under which sec. & %?.
20 September 2016
Sanjeev,
Tds to be deducted for furniture rent or building given for rent @10% if the rent amount crosses Rs180000/- year.
if only furniture given for rent for Rs26000/- per month TDS to be deducted @10%
Section 194I
In thus section rent has wide meaning
Tds to be deducted for furniture rent or building given for rent @10% if the rent amount crosses Rs180000/- year.
if only furniture given for rent for Rs26000/- per month TDS to be deducted @10%
Section 194I
In thus section rent has wide meaning
20 September 2016
I red below statement from tax guru site "In case where building is let out by one person, and furniture, fixtures, etc., are let out by another person, then the payee is required to deduct tax under Sec. 194-I only from the rent paid/credited for the hire of building." As per this statement TDS is to be deducted only on rent portion ( suppose rent is above Rs.1.80L)?.
20 September 2016
...rent portion of building Only?.
20 September 2016
Sir, in the case of income from house property the additional facilities provided to be deducted to arrive at the rent .and additional facility us taxed under income from other sources.this is for valuation of HP
In your case both are independent transaction
I have answered pertains to the situation
In your case both are independent transaction
I have answered pertains to the situation
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
