01 April 2009
Sir, We pays rent of Rs. 22000/ Month. Office owner is not agreeing to deduct the TDS from rent. What is the effect on us, if we are not deducting the TDS from him. What is the rate of TDS on rent?. Do we need to deduct any other taxes like service tax?
01 April 2009
if u dont pay tds than rent expense wont be allowed as deduction... rate of tds on rent for land or building is 15% if rent is paid to individual or huf and 20% if rent is paid to others thisn is the basic rate you need to add surcharge 10% if applicable and 3% for education cess
CAclubindia
