Rent payable-u/s 194i of income tax act,

Charudutta R. Mhalgi (Querist) 30 October 2013 This query is : Resolved

To

Respected Sir,

Whether a Corporation ( a Semi Govt. body )

can deduct TDS on rental charges plot/land

given to Contractor on rental bais.

Kindly advice for the same.

Regards

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C. SANJEEVA RAO (Expert) 31 October 2013
Your query is not clear, however, the person to whom you have given on rent, has to deduct the tax from the rent payable/paid if the specified limit exceeds i.e.Rs.180,000/- as per the provisions of Section 194I of the Income-tax Act,1961. In your case the rate of TDS is 10%. For CBDT clarification you see the Circular No.715 dated 08-08-1995. And you are advised to contract your local tax consultant/CA for the better appreciation, such as to help in obtaining TAN etc.

Rajendra K Goyal (Expert) 31 October 2013
Facts not clear.
Consult you tax consultant and show him all the documents.

R.V.RAO (Expert) 21 February 2014
yes.U/S 194I, TDS is applicable on rent payable on land and buildings etc...@10%.
limit is Rs1.8 lacs P.A.
when you file IT return,and offer the rental income,claim the TDS ,based on TDS cert.issued by deductor.

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