Query on TDS on rent

[Jitender Sharma]

Dear Sir,

 

I have one query regarding TDS on Rent (as per section 192 I). TDS on rent liability will arise when rent exceeds Total limit of Rs. 1,80,000/- per annum to each payee or co-owner separately. Now, I would like to know that as we have shifted our office in october 2013  and in new office we have to pay Rs. 25000/- per month rent for flat that means Rs. 1,75,000/- for 7 month in this financial year to one co-owner and Rs. 15000/- for 7 months i.e; Rs. 1,05,000/- to other co-owner for rent for furniture and fixture. So, whether we have to deduct TDS or not.

[Guest]

Dear Jitender,

Total limit of 1.8L pa is for each payee.

 

Regards

Pawan Sehrawat

AI Summary

TDS on rent applies when payments to each payee exceed the threshold; separate co owner payments below it needn't be deducted. The obligation to deduct TDS on rent arises only when the aggregate rent payable to each payee or co owner in a financial year exceeds the specified annual limit of Rs. 1,80,000, applied separately to each payee; consequently, where each co owner's receipts are below that per payee threshold, no deduction is required.