Hi,
I have one query related to TDS on Rent u/s 194I of Income Tax Act.
In order to solve this query i am trying to present the complete scenario of the case which is mentioned here under.
We ( Limited Company)have two agreement with party one for godown space and another for Office space.
Now as per the agreement/contract the rent for office space is Rs 13500/- per month, and the rent is to be paid by a Limited company via cheque or DD in the names of A and B equally.
A Rs 6750/-
B Rs 6750/-
And another agreement is for Godown space on monthly rental of Rs 21000/- and the rent is being paid by Limited Company in the names as stated below:
A for Godown rent Rs 7000/-
B for Security Rs 7000/-
C for Maintenance Rs 7000/-
Query: Though in this case the agreement is made separtely for two separate premises ie. Godown and Office, but the owners are the same (A & B) so shall we deduct TDS because when we add the rent for both the premises for A and B than we found that it exceeds the limit ie. (Rs 7000+Rs 6750= Rs 13750 Per month ) in both the cases.
Kindly suggest and clarify the above case with sections and rules.
CAclubindia
