9911796707
TMI Blog2003 (8) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... at source. If the payee is a body of individuals and if the rent payable exceeds Rs. 1,20,000 per annum, the payer is required to deduct 20 per cent. thereof as tax deducted at source. - tenant-bank was right in proposing to deduct tax of Rs. 99,198 as tax deducted at source while agreeing to pay a sum of Rs. 6,20,512 to the petitioners jointly as and by way of rent - - - - - Dated:- 1-8-2003 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nk prior to the bank agreeing to pay the sum of Rs. 6,20,512 on December 16, 1998. The petition, however, shows that a memo of agreement was entered, with the bank on January 13, 1999, whereby the petitioners individually agreed to rent out specified portions of the properties to the bank. It, therefore, appears to me that prior to January 13, 1999, the petitioners as undivided joint owners had le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls and if the rent payable exceeds Rs. 1,20,000 per annum, the payer is required to deduct 20 per cent. thereof as tax deducted at source. By using the expressions "person", "individual", "other cases" and "payee" the Legislature has made the same explicit. This has also been considered by a single judge of this court and has supported what I have expressed above. The said judgment of the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
