Payment of rent

Querist : Anonymous (Querist) 14 August 2024 This query is : Resolved
I AM MAKING PAYMENT OF RS. 20000 AS RENT TO MY HOUSE OWNER BY DEPOSITING THE AMOUNT BY CASH IN HIS BANK ACCOUNT . IT IS FROM MY PERSONAL INCOME FROM OTHER SOURCES .
IS IT NECESSARY TO SEND THE SAME BY ONLINE PAYMENT FROM MY BUSINESS BANK ACCOUNT AND REFLECT IT IN MY BUSINESS ACCOUNT BOOK ?
NOW MY HOUSE OWNER WANTS XEROX COPT OF MY PAN CARD . WHAT IS THE RIGHT WAY OF RENT PAYMENT ?
IF MY RENT IS INCREASED TO RS. 21000 FROM NEXT MONTH , SHOULD I DEDUCT TDS OR IS THERE ANY OTHER WAY OUT OF IT .

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T. Kalaiselvan, Advocate Online

(Expert) 15 August 2024
You may have to deduct TDS wherever it becomes necessary and furnish the details of deposit of TDS with government.
Since you are depositing the rental amount to his bank account directly, this becomes an evidence for the rent payment.
If you are having a sole proprietary business then you can pay the rent from your business account also.

P. Venu (Expert) 18 August 2024
How you are accounting the rent paid? Is it reflected in the account books relating to the business?

Sudhir Kumar, Advocate (Expert) 21 August 2024
I case you are making TDS then you need to have his pan No.

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