Please advice, What is the Limit for Senior Citizen to deduct TDS on House Rent from FY 2011-12 ?
Thanks.
9 Replies
Sanat kumar
(Chartered Accountant)
(265 Points)
Replied 23 August 2011
I think it is Rs 180000 for a senior citizen also.
CA. Rashi Goyal
(Chartered Accountant)
(512 Points)
Replied 23 August 2011
Rs.1,80,000.00 (excluding service tax thereon).
VISHNU HARIT
(Assistant manager (management trainee))
(59 Points)
Replied 23 August 2011
i think u/s 194 I TDS on house rent upto Rs.180000 annualy is not required to be deducted, but above Rs.180000 we have to deduct TDS @ 10% on aggregate amt. paid .w.e.f. 01.07.10.
sanju
(Accountant)
(348 Points)
Replied 23 August 2011
no vishnu! if rent paid 180000/- he has to deduct tds. if rent is 179999 no need to deduct tds
Ashvin Bhanderi
(ACCOUNTANT)
(59 Points)
Replied 25 August 2011
Up to Rs. 180000.. Not required to deduct TDS.. But if above Rs. 180000, Then U have to deduct TDS on entire Payment U/S. 194 I... and it will not make any difference for Senior Citizen or Common man
Ashvin Bhanderi
(ACCOUNTANT)
(59 Points)
Replied 25 August 2011
Up to Rs. 180000.. Not required to deduct TDS.. But if above Rs. 180000, Then U have to deduct TDS on entire Payment U/S. 194 I... and it will not make any difference for Senior Citizen or Common man
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 10 September 2011
Rightly said Above......
-
U/S 194 I:- TDS ON RENT OF HOUSE...
-
RATE:-- 10%
-
LIMIT:-- UP TO 180000...LIMIT NO TDS DEDUCTED..
-
THIS AMOUNT EXCLUDING SERVICE TAX..(THIS RULE APPLY IN TDS ON RENT ONLY)
-
NO MATTER ,DEDUTTEE IS NORMAL OR SENIOR CITIZEN.
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