TDS u/s 194IC, Income Tax

[hubert fernandes]

In case of redevelopment agreements with Registered Co-operative housing society if Builders enters in an specified agreement as defined u/s 45(5A) of income tax act with the society and such specified agreement during the construction stage provides for an alternate accommodation to the existing member, whether the rent payable/paid to the Society as part of alternate accommodation will be subjected to TDS u/s 194IC or under 194I (TDS on rent)

please advise

Posts / Replies

[CASusheel Gupta]

In my view, amount being paid towards rent is part of consideration and rent is only a method of quantification. TDS on rent should be deducted by tenant and not by you.

CA Susheel Gupta

9811004443