TDS on rent
5 years ago
What is tds on rent? Is it beneficial for landlord or tenant?Is it mandatory to have a clause of tds on rent in the rent agreement?
Shreyash Mohta
Responded 5 years ago
A.TDS is "tax deduction on source"
Such tax is applicable only if the rent amount is Rs.2,40,000
Such tax is applicable only if the rent amount is Rs.2,40,000
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A.Dear Sir,
There is a clear cut guideline by the Income Tax Department.
Ask the Tax people.They will clarify.
Shanti Ranjan Behera
Advocate
There is a clear cut guideline by the Income Tax Department.
Ask the Tax people.They will clarify.
Shanti Ranjan Behera
Advocate
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A.Dear Sir,
TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 2,40,000 p.a. This limit of Rs. 2,40,000 p.a. is per taxpayer per annum.
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TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 2,40,000 p.a. This limit of Rs. 2,40,000 p.a. is per taxpayer per annum.
For full procedure contact me on mobile through Vidhikarya.
Rate me Five Star *
Please visit the following link.
https://vidhikarya.com/LawyerRating/9506c43f5d0b2d266a07
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Rameshwar Dadhe
Responded 5 years ago
A.Both parties have benefit from it . For future reference or any disputes arising between both parties then it will be helpful to you
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