TMI BlogTDS on RENT in case of CO OwnersX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Agree ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - Reply By Ganeshan Kalyani - The Reply = Sir, here is the answer to your point wise query: 1. No, TDS is not applicable. 2. The arrangement is incorrect in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he eyes of law. 3. The property agreement would establish the fact. 4. No, TDS is not deductible. Thanks. - TDS on RENT in case of CO Owners - Query Started By: - VAMSI KRISHNA Dated:- 19-8-2016 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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