Dear Mihir,
if a individual paying a rent of Rs 2.00 lakh per annum. He is also liable to deduct TDS
vishal sharma (Accountant) (30 Points)
04 August 2011Dear Mihir,
if a individual paying a rent of Rs 2.00 lakh per annum. He is also liable to deduct TDS
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 04 August 2011
if the income of individual / HUF is subject to audit u/s 44AB in previous year, then yes, he has to deduct TDS otherwise not.
Mihir
(Wealth Manager)
(5293 Points)
Replied 04 August 2011
You need no start a new topic. You can reply to the previous topic.
Yes, you will have to deduct TDS on Rent above Rs. 180,000/- p.a.
TDS 2% on renting of plant and machinery or equipment
TDS 10% on renting of land, building (including factory building) or furniture of fittings.
vishal sharma
(Accountant)
(30 Points)
Replied 04 August 2011
As told by Mr. U S Sharma that the income of individual / HUF is subject to audit u/s 44AB in previous year, then TDS is deductable otherwise not. Is it true.
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