Master TDS & TCS Provisions with Critical Issues. Register Now!

TDS IN RENT

Vipin Kumar (Accountant) (57 Points)

29 July 2010

Hello Sir,

Sir I want to know that Can a individual who carry a propritor firm which sales is less than 40 lacs, deduct TDS on rent. The monthly paid rent amount is 12000/- PM.

Thanks

Vipin kumar

8010359789

Reply
Follow
Share

6 Replies

Sharad Saini (Student) (286 Points)
Replied 29 July 2010

No there is no req to deduct tax at source in your case. as per the new provision u r not req to deduct tax if annual rent does not exceeds Rs 150000 in ur case it comes to Rs 144000 thousand only..

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

CA.Tarun Maheshwari (CA, DISA) (7150 Points)
Replied 29 July 2010

To correct Sharad, the enhanced limit is Rs. 180000/-, not 150000/-. And also, the TDS would not be applicable if the turnover does not exceed Rs. 40 Lacs in previous financial year in case of individual. So in this case, TDS is not deductible at all.

1 Like

Venkateswara Rao Sapare (Accountant) (1500 Points)
Replied 29 July 2010

Originally posted by : CA.Tarun Maheshwari
	To correct Sharad, the enhanced limit is Rs. 180000/-, not 150000/-. And also, the TDS would not be applicable if the turnover does not exceed Rs. 40 Lacs in previous financial year in case of individual. So in this case, TDS is not deductible at all.