TDS on RENT in case of CO Owners

[VAMSI KRISHNA]

Dear All,

Q.No- 1,

'A' and 'B' are Co- owners Of a Property Which Is Given On Rent To 'C' . Rent Is 28000 (14000 To 'A' And 14000 To 'B') Per Month. For this Transaction whether TDS Provisions Will Attract Or Not ?????

Q.No- 2,

'A' Owned a property Which Is Given On Rent To 'C'. As Per Agreed Terms Rent Per Month is 28000.

'B' is relative Of 'A'. In Rental Agreement With 'C' , 'A' Mentioned As Property is owned By 'A' and 'B' (Like Co-owners But property Is In Name of 'A' only). For this Transaction whether TDS Provisions Will Attract Or Not ?????

Q.No-3,

In Both Cases How 'C' Will Ensure Whether Payees Are Co-owners Or Not????????

Q.No-4,

As Per Provisions Of TDS If They Are Co-Owners TDS Limits Applicable separately.

So Co owners Both Are Eligible To Claim Income. If 'C' Paid Accumulated Amount (I.e In (Q.NO-1) 28000) Paid Only To 'A'. And 'A' further Given 14000 to 'B'. Whether TDS will be deductible When payment 28000 by 'C' to 'A' ??????

Thanks.

AI Summary

TDS Not Applicable on Rent for Co-owners; Clarification Needed on Ownership in Agreements A query was raised about the applicability of TDS (Tax Deducted at Source) on rent in cases involving co-owners. In the first scenario, two co-owners, 'A' and 'B,' receive equal rent payments from a tenant, 'C.' The question was whether TDS provisions apply. In the second scenario, 'A' owns a property but lists 'B' as a co-owner in the rental agreement, questioning TDS applicability. The response clarified that TDS is not applicable in both scenarios, and the arrangement in the second scenario is legally incorrect. The property agreement should clarify ownership to the tenant.