Compliance Pack
TDS on rent paid by businesses, Sec 194-I
- If your business pays rent, we check whether TDS applies at 10% or 2%, deduct it at the right time, deposit it every month, file Form 140 (old Form 26Q) each quarter and issue Form 131 (old Form 16A) to the landlord, so you avoid interest, late fees and disallowance of rent.
- Deadline: Deduct when rent is credited or paid, whichever is earlier; deposit by the 7th of the next month (30 April for March); Form 140 by 31 July, 31 October, 31 January and 31 May
- Done in Challan within the monthly due date; Form 140 within 5 working days after the quarter's data
- Prepared by your Savvy, checked by a CA
- TAN of the business
- Is the business an individual or HUF below the audit turnover?
- Compute TDS on each rent credit or payment
- Monthly challan receipts
TDS on rent paid by businesses, Sec…
Deduct when rent is credited or…
- IInformation7 documents
- DDiscussion6 questions
- FForms5 steps
- DDeliverablesMonthly challan receipts
Answer in brief
If your business pays rent, we check whether TDS applies at 10% or 2%, deduct it at the right time, deposit it every month, file Form 140 (old Form 26Q) each quarter and issue Form 131 (old Form 16A) to the landlord, so you avoid interest, late fees and disallowance of rent.
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- TAN of the business
- Rent agreement with each landlord
- Landlord name and PAN
- Ownership shares of joint landlords
- Monthly rent ledger and payment dates
- Lower deduction certificate, if anyOptional
- GST invoice of the landlordOptional
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₹2,499
₹2,499 + ₹449.82 GST = ₹2,948.82
Monthly deposit, quarterly statement. Delivered in Challan within the monthly due date; Form 140 within 5 working days after the quarter's data. Due: Deduct when rent is credited or paid, whichever is earlier; deposit by the 7th of the next month (30 April for March); Form 140 by 31 July, 31 October, 31 January and 31 May
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