I indivisual paying rent of Rs 20,000/- per month making total rent of Rs 2,40,000/- ( two lakh forty thousand per year)..........................to an indisual against his house taken on rent..............is there need to deduct any TDS or not
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182828 Points)
Replied 13 December 2018
Yes, if the individual/tenant who is liable to audit as per the provisions of section 44AB of the Act during the financial year immediately preceding the financial year shall be liable for deduction of tax at source on rent by him.
Nikhil Kaushik
(Fellow CA)
(85984 Points)
Replied 13 December 2018
but not if the rent is for a residential property and not being claimed as a business expense.
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