TDS on RENT in case of CO Owners, Income Tax

[VAMSI KRISHNA]

Dear All,

Q.No- 1,

"A" and "B" are Co- owners Of a Property Which Is Given On Rent To "C" . Rent Is 28000 (14000 To "A" And 14000 To "B") Per Month. For this Transaction whether TDS Provisions Will Attract Or Not ?????

Q.No- 2,

"A" Owned a property Which Is Given On Rent To "C". As Per Agreed Terms Rent Per Month is 28000.

"B" is relative Of "A". In Rental Agreement With "C" , "A" Mentioned As Property is owned By "A" and "B" (Like Co-owners But property Is In Name of "A" only). For this Transaction whether TDS Provisions Will Attract Or Not ?????

Q.No-3,

In Both Cases How "C" Will Ensure Whether Payees Are Co-owners Or Not????????

Q.No-4,

As Per Provisions Of TDS If They Are Co-Owners TDS Limits Applicable separately.

So Co owners Both Are Eligible To Claim Income. If "C" Paid Accumulated Amount (I.e In (Q.NO-1) 28000) Paid Only To "A". And "A" further Given 14000 to "B". Whether TDS will be deductible When payment 28000 by "C" to "A" ??????

Thanks.

Posts / Replies

[Ganeshan Kalyani]

Sir, here is the answer to your point wise query:

1. No, TDS is not applicable.

2. The arrangement is incorrect in the eyes of law.

3. The property agreement would establish the fact.

4. No, TDS is not deductible.

Thanks.