TDS on rent of a building if rent is exactly Rs. 240000 per annum ? for F.Y 2020-21

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Hello,

 

Do i need to deduct TDS on rent payable for rent of a commercial building, however the rent is exactly Rs. 2,40,000/- per annum....

im already deducting TDS to another landlord but rent payable for it is Rs. 45000 per month?

 

Do i need to deduct TDS for this landlord also???

 

Replies (2)
No....as the amount does not exceed 240000/- per annum..... kindly refer sec 194 I of Income Tax Act 1961
Tds @ 10% will be deducted only when amount of rent exceeds 2,40,000.


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