Iam paying rent to residence to two owners 40k each per month. Total rent paid is 80k per month.Is it necessary to deduct tds in this case?
2 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(6630 Points)
Replied 02 March 2025
2. Deduct TDS at 5% on each rent payment (₹2,000 per owner, per month).
3. Deposit the TDS with the government using Challan 281.
4. File Form 26Q (quarterly TDS return) and provide the owners with Form 16A (TDS certificate).
Nikhil Kaushik
(Fellow CA)
(86344 Points)
Replied 02 March 2025
if your query is for rent being paid by an individual in his personal copacity for the purpose of residential property, then in this case TDS woul not apply. If not, then the above response shall be followed.
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