nangia Started The Discussion:
IS it manadatory for my tenant to deduct TDS before paying me rent ? We agreed in the lease agreement for a monthy rent of 40000 per month but now the tenent is deducting 10 % TDS. sk
you had not made it clear, whether your tenant is a company, individual or HUF.
Any way, if your tenant is individual or HUF, then there is no need for him to deduct TDS. But, if your tenant is comapany, firm, etc having PAN No. & TAN No. then he is legally bound to deduct TDS if annual rental value of TDS exceeds Rs. 120000/- per annum.
if tenant is HUF/Indivdual and covered under tax audit or a other person like comapny firm the tds on rent mandatory if yearly payment is >120000.
read more from here
TDS ON RENT 194-I NOT INCLUDING SERVICE TAX | SIMPLE TAX INDIA
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