RaviSK (engineer) 19 April 2014

Rent for sbi lease a taxable?

Hi All,

I am letting our property to an SBI officer for Rent 20,000. The Lease agreement will be done between SBI and Me. The Tenent is saying SBI will cut 2000(10%) as Tax every Month.

I am confused why they would cut the TAX every Month in advance. As I know I would Filed TDS in the Year end in which I would show Income from House propery.

Would some one suggest how to avoid this tax every month in advance.

I do an contract job and earn 10,000 a month.

Thanks in advance.

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1 Replies

bhagwat patil (Property due diligence 9422773303) 20 April 2014

Min slab for TDS for rent initiats from RS 240000/year.either you file a return and get refunded in next year or technically split the premises in two parts in rent contract.