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

[DR.MARIAPPAN GOVINDARAJAN]

The Finance Act, 2017 gives the list. If it is not possible to get it please inform.

[Ponnuri DhanamjayaRao]

Sir, Pls inform if there is any provision as per the amendment in Budget 2016 that NO TDS need to be deducted if 15G / 15H has been submitted, while TDS is supposed to be deducted @ 10%, applicable under sec,194 - 1 when the Rent payable by the company is more than 1,80,000/- p.a. Regards.

AI Summary

TDS on rent: applicability of general rent withholding provision to residential guesthouses and effect of 15G/15H submissions. Contributor asserts that the specific premises exclusion is not applicable to a residential guest house, so the general rent withholding provision applies and tax must be deducted at the prescribed withholding rate on each payment when annual rent exceeds the statutory threshold; respondents cite the Finance Act, 2017 and question whether submission of Forms 15G/15H negates the obligation to deduct tax.