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
Ritasha
(chartered accountant)
(356 Points)
Replied 13 April 2010
As given payment is in nature of rent so TDS needs to be deducted.
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
Duplication /forum/tenant-rents-78422.asp
Bimal Mehta
(Senior Accountant & finance managerial)
(180 Points)
Replied 13 April 2010
| Originally posted by : Aditya Maheshwari | ||
 |
Yes if the amount crosses the basic exemption u/s 194I then TDS deductible Duplication /forum/tenant-rents-78422.asp |
 |
BUT THIS RENT IS BEING PAID BY DEVELOPER OR CONSTRUCTION COMPANY TO THERE TENANT FOR OCCUPANCY FOR TEMPARARY PERIOD .
THEN ALSO IT IS APPLICABLE ? IF YES THEN PLS PROVIDE ME SUPPORTING SECTION COPY
LET ME KNOW IT .
THANKS
Shekhar Athalye
(c.a,)
(23 Points)
Replied 08 March 2011
No. The payment to tenants is for rent and not as rent. it becomes rent when a tenent pays to his alternate landlord.
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