194I:No TDS on Rent to Co-owners if Below Limit

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1715

The building owned by various co-owners was leased in favour of assessee-bank on monthly rent including all taxes. Subsequently, the bank , on written requests from co-owners, started paying rent to all the co-owners as per their respective shares by separate cheques. Since the rent paid to each co-owner was less than Rs. 1.20 lakhs…

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