Yes Agree with all above
No need to deduct TDS
Tds on rent
Page no : 2
CA Ashish Singh
(Chartered Accountant)
(23 Points)
Replied 26 May 2012
No,You dont need to deduct the tds as limit is 1,80,000 Rs. for the year.
Narisetti joji babu Chowdhary
(financial accounting)
(29 Points)
Replied 26 May 2012
I AGREE WITH ALL ABOVE...................................NO NEED
Subhash Vishwakarma
(Chief Finance Officer)
(34 Points)
Replied 26 May 2012
Mr. Vinod
No need to deduct and pay TDS on rent since the total rent paid during the period is below the threshhold limit. But keep the track since you mention it for 9 months, once exceeds Rs. 1,80,000/- in a year, you are liable to deduct and pay.
Subhash Vishwakarma
Subhash Vishwakarma
(Chief Finance Officer)
(34 Points)
Replied 26 May 2012
No need to deduct and pay since total rent paid during the year is below threshhold limit of Rs. 1,80,000/-. Agreed with all above.
vamshi krishna
(student)
(55 Points)
Replied 26 May 2012
yes ur below the limit of Rs 180000 so no need to deduct TDS
Narendra Kumar Bansal
(Account Manager)
(57 Points)
Replied 26 May 2012
No, there is no liability of TDS dedution....
Mugundan
(Live your Passion)
(249 Points)
Replied 26 May 2012
No Sir, you no need to deduct TDS for this year since it not exceeds Rs.180000/-.
Vishu Bansal
(Article)
(21 Points)
Replied 27 May 2012
no need to deduct TDS on rent coz total rent recd. During the year is within the limit.
Sandeep Himatsingka
(SCM-Head)
(85 Points)
Replied 28 May 2012
- If rent = 1,98,000, then TDS to be deducted on 1,98,000 or 18,000?
- At what rate?
- Should the bill raiser i.e. landlord charge tax on basic rent amount only?
- Say rent=15,000 pm. Should the bill from land owner be 15,000 + 10% (of 15,000) =16,500/-? This figure is on per month basis.
Mugundan
(Live your Passion)
(249 Points)
Replied 28 May 2012
| Originally posted by : Sandeep Himatsingka | ||
 |
If rent = 1,98,000, then TDS to be deducted on 1,98,000 or 18,000? At what rate? Should the bill raiser i.e. landlord charge tax on basic rent amount only? Say rent=15,000 pm. Should the bill from land owner be 15,000 + 10% (of 15,000) =16,500/-? This figure is on per month basis. |
|
Dear Mr.Sandeep TDS has to be deducted @ 10% at the time when it exceeds Rs.180000p.a. or Rs.15000p.m....
TDS will be deducted on the Gross bill value i.e on Rs.16500/- after deducting Rs.1650 i,e,(16500*10% TDS), the remaining amount Rs.14850(16500-1650) to be paid to the land lord....
regards,
Mukundan.
Mugundan
(Live your Passion)
(249 Points)
Replied 28 May 2012
| Originally posted by : Sandeep Himatsingka | ||
|
|
If rent = 1,98,000, then TDS to be deducted on 1,98,000 or 18,000? At what rate? Should the bill raiser i.e. landlord charge tax on basic rent amount only? Say rent=15,000 pm. Should the bill from land owner be 15,000 + 10% (of 15,000) =16,500/-? This figure is on per month basis. |
|
Dear Mr.Sandeep TDS has to be deducted @ 10% at the time when it exceeds Rs.180000p.a. or Rs.15000p.m....
TDS will be deducted on the Gross bill value i.e on Rs.16500/- after deducting Rs.1650 i,e,(16500*10% TDS), the remaining amount Rs.14850(16500-1650) to be paid to the land lord....
regards,
Mukundan.
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