If a property is taken for lease for residential purpose ,rent is₹18000 per month ,will it attracts TDS @ ₹1800 per month ?
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Deduction of TDS on Residential Property
Replies (10)
Not required to deduct TDS if residential purpose
No tds required upto monthly rent of 50000.
if business purpose then 10% is to be deducted ....
If you are not indiviadual or HUF & property is for official business purpose then Yes
If your turnover being businessmen exceeds 1cr or being professional exceeds 50Lac then Yes
If you are indic-vidual or HUF and pay rent for residential purpose then No
sir, on behalf of individual ,bank is paying the rent
if that is the case , is it require to deduct TDS? the lease agreement pops up a notification to deduct tds @ 10%? Don't know i should approve or not?
if that is the case , is it require to deduct TDS? the lease agreement pops up a notification to deduct tds @ 10%? Don't know i should approve or not?
Are you reimbursing Rent amoount to bank?
Or will you reimburse in future?
yes mam, i am reimbursing now
Yes so you need to reimburse amount entire amount of rent & TDS if bank has deducted
okay Thank you so much
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