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tds on rent

02 June 2018

hi can anybody tell me if i paid rent rs 16000 per month in f.y. 2018-19 and i know my annual rent amount will exceeds of rs 180000 in f.y. 2018-19 so in that case will i deduct tds from every month rent amount????? plz reply ....

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5 Replies

Kalpesh (Chartered Accountant) (349 Points)
Replied 02 June 2018

Yes you need to deduct TDS @ 10% every month u/s 194-I

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Rajkiran Ghosh (479 Points)
Replied 02 June 2018

ok and sir if i pay rent in any month below rs 50000 and i come under provison rs 50000 per month for tds rent in that case i donot deduct tds in that particular month in which month my rent amount is below than rs 50000.... am i right sir???? plz reply me....

Kalpesh (Chartered Accountant) (349 Points)
Replied 02 June 2018

Are you a partnership firm or Individual?

Swadhin Sahoo (18 Points)
Replied 02 June 2018

Sir,
As per my understanding tds for rent paid u/s 194I is applicable to individuals and HUF only if the monthly rent exceeds 50,000.
as for the annual limit of 1,80,000 is concerned it is applicable for all except (individual & HUF), but includes everyone covered under tax audit.