Tds payment on rent
ashok thakker
(Querist) 13 July 2013
This query is : Resolved
Sir,
My agreement for office have expired on April,2013,it had been negotiated and settled at an agreed rate per month from May'2013.I have deducted and paid TDS for the month of April'13,now my landlady as she could not procure TDS exemption from IT she said ,don't pay me till i get certificate from IT, As a deductor i am told i have to make provisions at new rate and deposit TDS against the wish of my Landlady. PL advise so i don't get into default.
regards,
ashok thakker
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Sadashiv Rupchand Gaikwad
(Expert) 14 July 2013
TDS should be deuted @10% if rent is more than Rs 180000/- in a finnacial year. If arrears paid and gross amount goes beyond threshold limit TDS to be deducted from 0 Rupees. It is mandatory
R.V.RAO
(Expert) 06 March 2014
you need to deduct TDS as a ststutory obligation.it is serious offence of not deducting /short deducting/not deposit/short deposit.perhaps you are aware of your legal obligations and you are on right side of law.
now as per your landlord,you should not pay her,till her problem is solved.
ok.as per your agreed new rent from may 2013,you provide TDS @10% of rent if the rent P.A exceeds threshold limit of Rs1.8 lacs.
keep her new rent cheques (after tds deduction)with you or seek her approval to deposit in her bank.
but your obligation under IT act of deduction and deposit of tds cannot be violated.take her receipts also.
she may not be aware of rigor of ITact and the serious repurcussions.take pity on her.try to explain by yourself or through some elderly persons of same locality.
pl. note ignorance is not bliss always,as is in the present case.
