Tds on rent and amenities
This query is : Resolved
12 January 2012
Dear Experts,
In a lease agreement of 11 months total amount is 25000 broked out as
Room Rent 10,000
Furniture & Other amenities 15,000
The lessee is a company and is not deducting any TDS concluding Room Rent to be below Rs. 180,000 yearly. Is this correct? Whether TDS should be deducted on whole Rs. 25,000?
In a lease agreement of 11 months total amount is 25000 broked out as
Room Rent 10,000
Furniture & Other amenities 15,000
The lessee is a company and is not deducting any TDS concluding Room Rent to be below Rs. 180,000 yearly. Is this correct? Whether TDS should be deducted on whole Rs. 25,000?
Guest
Guest
(Expert)
12 January 2012
No in this case , tds is not deductible being rent amount less than 180000/-
13 January 2012
Mam, please clarify whether there will be no TDS on amenities and Furniture?
13 January 2012
Mam, please clarify whether there will be no TDS on amenities and Furniture?
Guest
Guest
(Expert)
13 January 2012
TDS deducted on Rent P & M , Equipment,
furniture & fittings @ 2% if payment exceeds Rs. 1.80 Lacs.
furniture & fittings @ 2% if payment exceeds Rs. 1.80 Lacs.
15 January 2012
But here the room rent & Furniture Rent is paid to the same person, is this doesn,t matter that the rent is paid to same single person.
15 January 2012
TDS has to be deducted from Total Amount of Rs 25000, as Section 194I specifically mentions RENT PAID FOR LAND, BUILDING, FURNITURE,ETC WHETHER PAID SEPERATELY OR TOGETHER.
Message likes :
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16 January 2012
Thanks you sir. But if i can get more experts view i will be confident.
Guest
Guest
(Expert)
16 January 2012
Thanks for correcting me Ravikant Ji.
TDS is also deductible on security deposit given by tenant which is adjustible against future rent. but if security deposit is refundable then TDS is not deducted.
TDS is also deductible on security deposit given by tenant which is adjustible against future rent. but if security deposit is refundable then TDS is not deducted.
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