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194i rent

abhijit das (student) (91 Points)

04 August 2014

IF LANDLORD IS INDIVIDUAL AND SENIOR CITIZEN (M) THEN WHAT WILL BE THE TDS LIMIT U/S 194I???? RS. 180000/- OR RS. 200000/-

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13 Replies

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 04 August 2014

limit will be 180000 p.a. as specified under section 194i.

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Anubhav (Chartered Accountant) (429 Points)
Replied 04 August 2014

Hi,

No need to deduct tax in case landlord is an individual. TDS needs to be deducted only when the business or profession of the individual is liable for tax audit u/s 44AB.

Just check out if the senior citizen landlord is audited u/s 44AB or not.

For any further query PM or mail me.

AJH & CO.

anubhavjain @ ajhco.in

9868729930

CA Nitin K. Varshney (FCA DISA CCA Peer Reviewer (ICAI)) (616 Points)
Replied 04 August 2014

dear abhijit, sec 194I clearly specify the limit i.e. Rs. 180000/-.

CA Nitin K. Varshney (FCA DISA CCA Peer Reviewer (ICAI)) (616 Points)
Replied 04 August 2014

dear anubhav,

landlord does not deduct tds, so there is no need to check provision of 44AB for the landlord. TDS shud b deducted by the tenant. it shud be seen dat tenant is using d premises for business use and fall under the provision of sec 44AB.

abhijit das (student) (91 Points)
Replied 04 August 2014

Thank you sir to all..

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(Guest)

Ca nitin sir nice answer

CA Santosh Dhumal (Practising CA.) (594 Points)
Replied 05 August 2014

In case of the assessee other than Individual and HUF,Payment made towards expenses as specified under chapter VI, assessee has to deduct the Tax. irrespective of whether deductee is covered under audit or not. and in case of Individual and HUF same condition will apply only when assessee was liable to get his books of accounts audited u/s 44AB,immediately preceeding the previous year. Dear

JAY RUPARELIA (ARTICLE ASSISTANT ) (44 Points)
Replied 05 August 2014

Sir if we consider above case from point of view of landlord. Suppose he has no other income and receiveing 250000 p.a. rent. On the other hand tanent is a businessman. Landlord is requests tanent not to deduct TDs. Then still without deducting TDs can tanent claim the deduction in tax?

CA Nitin K. Varshney (FCA DISA CCA Peer Reviewer (ICAI)) (616 Points)
Replied 05 August 2014

dear jay,

if the tds has nt been deducted by the tenant (in case rent is in excess of Rs. 1.80 lac), rent will nt b allowed as expenses to tenant.

on the other hand, landlord has no remedy to save tds on rent. tds will be deducted on rent in all cases. landlord can nt request for nt to deduct tax on rent.

CA Santosh Dhumal (Practising CA.) (594 Points)
Replied 05 August 2014

Dear Jay, as mentiond by you. landlord has no other source of income except rent from Said property and said amount is notcro

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CA Santosh Dhumal (Practising CA.) (594 Points)
Replied 05 August 2014

Dear Jay, As mentioned in your case. when landlord is having no other source of income except rent income from said property. and it is not crossing his slab rate(in case of senior citien Rs 250000 and other case Rs 200000) But crossing the limit specified u/s 194 I. he can apply to the AO u/s 197 for lower/non deduction of Tax. and present the certificate obtained from AO to tenent for non deduction/lower deduction of tax. however as per the N T 16/2011 tenent has to mention PAN of the landlord while filing qurterly return of TDS, Stating fact that no TDS deduction due to certificate u/s 197.