Tds rent

This query is : Resolved

venkatesh (Querist)
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29 March 2014 TDS TAX RENT LIMIT FOR NO TAX - 180000 PER MONTH OR QUARTERLY

AND OWNER HAS TO PAY ANY TAXES OTHER THAN PROPERTY TAX

CA Deven

CA Deven (Expert)
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29 March 2014 THE LIMIT OF RS. 1,80,000/- IS OF THE YEAR.

IT IS BASED ON THE AGREEMENT WHO WILL PAY THE PROPERTY TAX

venkatesh

venkatesh (Querist)
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29 March 2014 SIR THEN IN A MONTH RENT COMES 40,000 PER MONTH.

1. WHAT WILL BE THE TAX ?
2. IF RENT PAID 40,OOO/- SHOULD DEDUCT 10% TDS ?
3. TDS WILL BE DEDUCTED BY OWNER OR RENT PERSON ?

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CA Deven

CA Deven (Expert)
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29 March 2014 Dear Venkatesh,

TDS on 40,000/- is 4000/-

TDS is deducted by Tenant and not by the owner. The same needs to be paid by tenant to the government on or before 7th of next month.