IF DEVELOPER COMPANY PAYS RENTS TO THERE TENANTS DURING CONSTRUCTION PERIOD FOR THERE TEMPARARY OCCUPANCY .
SHOULD DEVELOPER COMPANY NEED TO DEDUCT TDS FROM THIS RENT ?
THANKS
BIMAL
Bimal Mehta (Senior Accountant & finance managerial) (180 Points)
13 April 2010IF DEVELOPER COMPANY PAYS RENTS TO THERE TENANTS DURING CONSTRUCTION PERIOD FOR THERE TEMPARARY OCCUPANCY .
SHOULD DEVELOPER COMPANY NEED TO DEDUCT TDS FROM THIS RENT ?
THANKS
BIMAL
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 13 April 2010
Yes if the amount crosses the basic exemption u/s 194I then TDS deductible