Tds on rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2012 Mr. X (Covered Under Audit in F.Y. 10-11) pays rent of Rs. 90,000/PM from 01/04/2011 for use of Building.

Now my question is Mr. X has to deduct TDS from First month or Mr. X has to deduct TDS once amount crosses Rs. 180000.

CA. Hari Kishan

CA. Hari Kishan (Expert)
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23 February 2012 TDS shall be required to be deducted from month ONE. The reason being the amount of payment towards rent shall be exceeding the limit of Rs.1.80 lakhs during the year.

Message likes : 1 times

Guest

Guest (Expert)

27 February 2012 Tax to deducted from inception of contract since the total amount of rent was above 1.8 lakhs and this fact was known from first month.

Message likes : 1 times

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