Mr. X has let out his property to Mr. Y and Mr. Y has sublet the property to Mr. Z. Is Mr. Z liable/accountable to deduct TDS on payments made to Mr. Y as Rent if the amount exceeds Rs. 1,20,000.00 ?
Prabeer (B. COM (H) CA & CS Final) (5484 Points)
24 December 2008Mr. X has let out his property to Mr. Y and Mr. Y has sublet the property to Mr. Z. Is Mr. Z liable/accountable to deduct TDS on payments made to Mr. Y as Rent if the amount exceeds Rs. 1,20,000.00 ?
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 24 December 2008
Mr.Prabeer Sarkar, If Mr.Z is going to claim the rent paid to Mr.Y as an expenditure, then Mr.Z is liable to deduct TDS on Rent paid or provided u/s.194I at applicable rates, if such amount exceeds Rs.1,20,000.00.
Prabeer
(B. COM (H) CA & CS Final)
(5484 Points)
Replied 24 December 2008
Thanks Mr. M.Sriram Shenoy.
Jyoti Malik
(ACCOUNTANT)
(2644 Points)
Replied 24 December 2008
Z claim amount paid to Y as rent expense in his books , then he has deducted the TDS on the amount paid or credited as rent to Y (the amount should be exceeds Rs.1,20,000)
gurcharan
(CA Finalist)
(46 Points)
Replied 19 June 2009
X Ltd. has let out his property to Y Ltd. and Y Ltd. get Reimbursement of Rent from Z ltd. Whether Z Ltd. is liable/accountable to deduct TDS on payments made to Y ltd. ? If Yes at how Much rate ?
chintan mehta
(Chartered Accountant)
(445 Points)
Replied 19 June 2009
for the companies the TDS rate is 20.6% and for individual it is 15.45%.
gurcharan
(CA Finalist)
(46 Points)
Replied 20 June 2009
its 22.66% for Companies- rent of immovable property & furniture.
plz. read it care fully ? i m asking about reimbursement of Expenses.
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