Rate of TDS on Rent and TDS chart for F.Y. 2017-18

[Ramesh Rangani]

Hi Experts!

Pl. help me in my understanding for TDS on rent of residential property (guest house):
Since the company is going to pay rent of INR 51000 per month for full year (Apr-2017 to Mar-2018), provisions of Section 194I-B is not applicable. Hence provisions of 194I is applicable and TDS @ 10% on every payment of rent will be deducted.
Thanking you in anticipation.
Rgds,
Ramesh

AI Summary

Section 194I: 10% TDS on Rent for Guest House Over INR 1,80,000 Annually; Forms 15G/15H May Exempt. A user inquired about the applicability of TDS on rent for a residential property, specifically a guest house, where the monthly rent is INR 51,000. They concluded that Section 194I applies, requiring a 10% TDS deduction. One respondent mentioned the Finance Act, 2017, and another highlighted a provision from the Budget 2016 allowing for no TDS deduction if forms 15G/15H are submitted, despite the general requirement to deduct TDS at 10% under Section 194I when annual rent exceeds INR 1,80,000.