If TDS receivable exceeds 180000.. and if rent payer doesnot deduct tds then who will be responsible to tds??
16 Replies
venkata subbaiah
(chartered accountant)
(36 Points)
Replied 22 December 2012
the person who was not deducted the tds is the reponsble .
satish kumar voleti
(A.C.A., (ICWAI))
(1686 Points)
Replied 22 December 2012
THE PERSON WHO IS PAYING RENT EXCEEDING RS 180000/- HAS TO DEDUCT TDS AND PAY... it is not the responsibility of deducteee.....
Hemant Kumar
(Accounts Manager MBA (Fin) CMA*)
(6450 Points)
Replied 22 December 2012
| Originally posted by : venkata subbaiah | ||
 |
the person who was not deducted the tds is the reponsble . |
 |
Agree.
CA Gaurav Ajit Potdar
(Chartered Accountant)
(846 Points)
Replied 22 December 2012
Person incurring expenditure is the person liable to deduct & pay TDS in this case it will be Rent Payer.
Vaiibhav Gupta
(Founder & Promoter JSR Fincon Inc)
(89 Points)
Replied 22 December 2012
| Originally posted by : Geetha | ||
|
|
If TDS receivable exceeds 180000.. and if rent payer doesnot deduct tds then who will be responsible to tds?? |
Its the liability of the dedcutor to deduct the tax |
Amit
(Student)
(75 Points)
Replied 23 December 2012
Dear friends,
Tds should be deducted by the payer & deposited to gov. a/c.
An other question if I have not deduct tds what will happend
CA Gaurav Ajit Potdar
(Chartered Accountant)
(846 Points)
Replied 23 December 2012
Amit if you are liable to deduct TDS but fail to do so then you will be liable to pay interest & may also incure penalty and the expenditure incured can be disallowed if TDS is not paid within due date for filling the income tax return.
venkatesh
(learner)
(116 Points)
Replied 23 December 2012
Service reciver should deduct the TDS -tax deducted at source - at the time of payment and file the quarterly return.
CA Sanjay Bag
(CHARTERED ACCOUNTANT)
(3345 Points)
Replied 24 December 2012
It is the duty of the dedcutor to dedcut tax at source.
Gadi venkata narasimharao
(article clerk)
(80 Points)
Replied 24 December 2012
It is the responsibility of the deductor.
Ramesh
(Accountant )
(30 Points)
Replied 24 December 2012
The Person Who is Paying Rent Needs Deducted TDS, Not for Rent Receiver
CMA RAVI
(ASSISTANT MANGER - FINANCE)
(478 Points)
Replied 24 December 2012
its sole liability of deductor to deduct tds under section 194 i
work is worship
(Service)
(2728 Points)
Replied 24 December 2012
Person incurring expenditure is the person liable to deduct & pay TDS where the rent payment exceeeds INR 180,000/- and in this case it will be Rent Payee.
Further if you fail to deduct TDS then you will be liable to pay interest & may also incure penalty and the expenditure incured can be disallowed if TDS is not paid within due date for filling the income tax return.
SUDAGAR.C
(Prop)
(119 Points)
Replied 27 December 2012
Its is the responsible of payer to deduct tds every month and remit the same if the rent amount exceed rs 180000. But however if the payer fails, but the receiver paid tax on that rent and produce a certificate from CA stating that the rent received shown as income and tax due has been paid. In this situation there's no problem for payer. He can claim the exp even if he not deducted tds.
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