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Warehouse rental income taxation

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(Querist)
10 August 2012 My client given warehouse on rent @ Rs. 25000/- p.m.. What is the tax liablity as per income tax act.
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CA Sripal Jain

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CA Sripal Jain (Expert)
10 August 2012 hi warehouse rent attracts TDS u/s 194i ,however one must deduct TDS excluding service tax @10 percent
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
10 August 2012 Rental income is taxable under the head Income from Other Sources.
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CA Sripal Jain

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CA Sripal Jain (Expert)
10 August 2012 hi,
the tax liability in hands of client-
taxable under other sources at normal slab rates

2. in the hands of payer- he must deduct TDS and remit the amount of rent

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