TaxTMI 
TaxTMI 
TDS on RENT in case of CO Owners
X X X X Extracts X X X X
X X X X Extracts X X X X
....DS on RENT in case of CO Owners<br> Query (Issue) Started By: - VAMSI KRISHNA Dated:- 19-8-2016 Last Reply Date:- 19-8-2016 Income Tax<br>Got 1 Reply<br>Income Tax<br>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 T....
X X X X Extracts X X X X
X X X X Extracts X X X X
....DS 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). ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....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&qu....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ot;. And "A" further Given 14000 to "B". Whether TDS will be deductible When payment 28000 by "C" to "A" ?????? Thanks. Reply By Ganeshan Kalyani: The Reply: Sir, here is the answer to your point wise query: 1. No, TDS is not applicable. 2. The arrangement is incorrect in the eyes of law. 3. The property agreement would establish the fact. 4. No, TDS ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....is not deductible. Thanks.<br> Discussion Forum - Knowledge Sharing ....