23 June 2014
sir,
if I have taken a property on rent which is jointly owned by two individual persons. total rent of property is more than 1.8 lacs annually. but if it will calculate in individual hand than it will be lower than 1.8 lacs. now am I liable to deduct tax u/s 194i or not.
23 June 2014
TDS not required to be deducted in the given case. Limit of Rs 1.8 lacs will be considered for each of the joint owners provided payment is made to each of them separately and they provide their respective PAN.
CAclubindia
