TDS ON COMPENSATION CHARGES RECEIVED ON RENTED PROPERTY
GOPAL KUMAR AGRAWAL (PARTNER) (205 Points)
12 June 2009GOPAL KUMAR AGRAWAL (PARTNER) (205 Points)
12 June 2009
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 13 July 2009
Mr. Gopal Kumar Agarwal
In your case the provisions of section 23(1)(b) applies. The amount received as a compensations is the annual value of the house property. If the impugned amount of compensation together with regular rent falls under the ambit of section 194I, tax has to be deducted accordingly.
Best Wishes
Sathikonda