PBS KUMAR (HR - PROFESSIONAL) 07 October 2011

House accommodation is it tds covered ?

Dear Expertes,

Our company is planning the take a house as residential accommodation for our personnel. The rent is spelitting into the House Rent and Furniture and Fittings i.e. Total Rent is Rs.25000/- in that Rs. 15000/- as House Rent and remain Rs. 10000/- is for Furniture and Fittings. Hence please clarify weather both are attracted TDS or only House rent is taxble ?

Regards,

PBS KUMAR

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4 Replies

A V Vishal (Advocate) 07 October 2011

If the rent is composite agreement then the TDS has to be deducted on Rs.25,000 @ 10%.

Sanjeev (Lawyer) 07 October 2011

Ideally the total amount of Rs 25,000/-constitute Rent and tax shall be deducted on entire amount but if the Furniture and Fixture is a seperate agreement seperate from the Rent agreement than you can consider Rs 15,000 as rent. This is a practise generally followed by landlords to prevent TDS and lower decustion of TDS .

PBS KUMAR (HR - PROFESSIONAL) 17 October 2011

Dear All,

Thanks for reply, but the agreement is splited into two i.e. House Rent is on one name(with Rs.15000/-pm) and the Furneature & Fixures on others name (with Rs.10000/-pm) now clarify weather TDS will be applicable ?.

Regards,

PBS KUMAR

darsheel menon (student) 28 July 2012

Respected Sir,
I have a building which i wish to let out ,in which my 2 siblings also have equal right.I am letting it to a company at 15,000pm.

Am I liable to pay TDS at 10% pa?

Is the owner of the building liable to pay TDS from the rent received?

Can i avail any exemption because the rent is divided among me and my 2 siblings?

We do not come under the income tax slab and thus not liable to pay IT,
Does that matter?

Please reply at the earliest.

Thank you.