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tds on rent

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2011 Our company makes a rent payment for use of property amounting to Rs. 20k per month.
how much tds should be dedcuted if the total amount for the year is 2.4 lacs
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
29 March 2011 10 % TDS under section 194I should be deducted
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CA Navin Jain

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CA Navin Jain (Expert)
29 March 2011 RATE OF TDS ON RENT IS 10%
HENCE, YOU NEED TO DEDUCT TDS OF RS. 24K
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
29 March 2011 The applicable rate will be 10 % and you have to worked out the amount on 2.4 per annum.

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