CA Abhishek Singh (practice) (2105 Points)
17 May 2014Hello everyone,
a shop is owned by three persons A, B and C
My client has taken that shop on Rent and he pays monthly rent rs.50000/- as follows.
To A-Rs.20000 (240000 pa)
To B-15000 (180000 pa)
To C-15000 (180000 pa)
My question: Is Tax required to be deducted on payment made to A,B,C ?
waiting for the views of the experts.
praveen
(Chartered Accountant)
(6971 Points)
Replied 17 May 2014
If you read the section 194I it clearly mentions that if the income paid by the payer to the payee exceeds Rs.180000 only then the provisions of TDS are applicable.
Hence in the above example only to the payment made to a person exceeding Rs.180000 TDS has to be done.
For more information and doubts Contact me at https://capraveenmr.wordpress.com/ or mail me at mrpraveen @ live.com
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 18 May 2014
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 19 May 2014
TDS will have to deduct only on rent payment to Mr. A only
omkar margaje
(junior accountant)
(24 Points)
Replied 21 May 2014
As per section 194I TDS is required to be deducted only on rent payment to Mr. A
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
