Dear Sir
I have given my house for a rent of Rs 20,000/- per month to a family.Is TDS applicable to me?
Thanks in advance
Dwarakanath
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Tds on rent
Replies (9)
If Tax Audit is not applicable to you then you are not required to deduct TDS.
Its depends on your payer status. If your tenant is indvidual/HUF who is not subject to tax audit, then he need not deduct Tax at source irrespective of the amount of rent.
However if the payer is any other person except as said above he should deduct tax at source as the rent p.a exceeds 1,80,000 @ 10% rate
Sanjay , tax audit applicabilty should be checked for payer na. Not payee
yes, tax audit applicability shud be checked for payer/deductor.
It depends upon your tenant status..if he is other than individual and huf then he will deduct tds otherwise not..but if he is individual or huf and tax audit applicable on him then he will deduct tds.
See TDS provision would be applicable only if payer/ deductor claim that rent expenditure in his profit and loss account subject to that rent exceeds 180000/- in a year.
But it seems that you have given the house for residential purpose to a family HENCE in this case no TDS provision applicale whether deductor/ payer covered under tax audit or not
You letout ur house to a family i.e Payer's personal exp-Rent
definately No tds has been deducted by payer as he debited Rent to his Capital acc as a Household exp..so No tds provision applid on It
but You must shw HP INCOME AFTR DED 30% std deduction .....
Perfect ans by tax pandit & rupesh soni.
TDS provisions are not applicable. You have to show income under the head house property
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