HAI FRIENDS I HAVE A QUARY ON RENTAL TDS I.E. WHETHER TDS NEED TO RECOVER ON RENT AMOUNT ALONE OR IT IS ON BOTH TDS & SERVICE TAX IF THE OWNER COLLECTS SERVICE TAX.
25 Replies
CA.S.Alamelu
(Partner)
(35 Points)
Replied 29 June 2012
sir
as per recent news, it is enough if tax is deducted on rent amount alone.
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 29 June 2012
TDS IS DEDUCTED ON RENT EXCLUDING SERVICE TAX.
AS PER CBDT CIRCULAR NO- 04-2008 ON DATED 28-04-2008
CA.Varalakshmi.M
(Manager-Finance)
(482 Points)
Replied 29 June 2012
CIRCULAR NO. 4/2008, DATED 28-4-2008
As per the provisions of 194-I, tax is deductible at source on income by way rent paid to any resident
Service tax paid by the tenant doesn’t partake the nature of “income” of the landlord. The landlord only acts as a collecting agency for Government for collection of service tax. Therefore it has been decided that tax deduction at source (TDS) under sections 194-I of Income-tax Act would be required to be made on the amount of rent paid/payable without including the service tax.
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 29 June 2012
| Originally posted by : M.Varalakshmi | ||
 |
CIRCULAR NO. 4/2008, DATED 28-4-2008 As per the provisions of 194-I, tax is deductible at source on income by way rent paid to any resident Service tax paid by the tenant doesn’t partake the nature of “income” of the landlord. The landlord only acts as a collecting agency for Government for collection of service tax. Therefore it has been decided that tax deduction at source (TDS) under sections 194-I of Income-tax Act would be required to be made on the amount of rent paid/payable without including the service tax. |
|
YES AGREE..
*RENU SINGH *
(✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ )
(21627 Points)
Replied 29 June 2012
agree ...
TDS IS DEDUCTED ON RENT EXCLUDING SERVICE TAX.
Kunal Bhutada
(manager)
(45 Points)
Replied 29 June 2012
Service tax does'nt partake the nature of income.therefore U/S 195 I TDS required to be deducted excluding service tax.
Rajendra Prasad
(Asst. Manager - Accounts)
(24 Points)
Replied 29 June 2012
TDS Deducted on Rent only
sandhya
(nil)
(58 Points)
Replied 29 June 2012
Hi
TDS will be deducted on Rent without including Service Tax
CA JATINDER SALHOTRA
(PRCTICE CA)
(59 Points)
Replied 29 June 2012
agree with all t.d.s need to be deducted excluding sevice tax
Nitil Kr. Agarwala
(Persuing CS)
(264 Points)
Replied 29 June 2012
| Originally posted by : M.Varalakshmi | ||
|
|
CIRCULAR NO. 4/2008, DATED 28-4-2008 As per the provisions of 194-I, tax is deductible at source on income by way rent paid to any resident Service tax paid by the tenant doesn’t partake the nature of “income” of the landlord. The landlord only acts as a collecting agency for Government for collection of service tax. Therefore it has been decided that tax deduction at source (TDS) under sections 194-I of Income-tax Act would be required to be made on the amount of rent paid/payable without including the service tax. |
 |
agreed
CA. Aabhishek Khurana
(CHARTERED ACCOUNTANT)
(364 Points)
Replied 30 June 2012
service tax paid by tenant is not in nature of income of landlord.
TDS U/S 194I SHALL BE REQUIRED TO BE MADE ON THE AMOUNT OF RENT PAID/PAYABLE WITHOUT INCLUDING THE SERVICE TAX.
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