India Income Tax Made Simple

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Excerpt: I am a NRI, co-owning an apt with my mother who is a resident Indian. The apt is let to an MNC which plans to pay the rent by 2 cheques of equal amount in my mothers and my name. In this regards1) Does the MNC have to pay TDS and give us cheques of the net amount after deduction2) What is the computation of the tax for the rent? VISHY241@GMAIL.COMSince you are Non Resident and your mother is resident , the MNC has to deduct the tax at two different rates and in two different sections because section…

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Excerpt: I am an individual assessee paying rental on residential accommodation to an individual assessee. Do I also have to do TDS on the rent paid? If yes, what are the rates thereof? What is the procedure to pay TDS by an individual?gapblore@….co.inI would actually take this opportunity to tell you all the circumstances when an Individual or HUF is responsible for dedcuting tax at source. A) An Individual or Huf who is carrying business is responsible for dedcuting tax only if total turnover of their business or businesses exceeds Rs 40 lacs. If he is involved in profession,…