Ware house(bldg.)taken on rent on 10.04.2009 for Rs. 25000/-
P. month, till today rent is on paid, what is liability of
TDS, percentage % & in which month TDS to deduct & make
payment, what is intr. for late paymet how to calculat
intr. from Apr. or May Or June
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Answer / Avinash Tiwari
TDS (Tax Deducted at Source) is applicable when the rent exceeds INR 2.5 lakhs in a year. The TDS rate for rent is 10%. If the rent payment starts after April, TDS should be deducted from June's rent. The interest on late TDS payment can be calculated using the Form 26B, available on the Income Tax Department's official website.
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