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What is the tds rate for society payment made to individual?


tds rate for the payment of rent

TDS on Rent [Sec 194 I] (effective from 1-6-2007)
1. Payment should be made by any person, except HUF & individuals
2. Tax to be deducted at the time of making due or making payment,whichever is earlier.
3. Tax to be deducted @ 20 % plus surcharge plus education cess of total amount (15% in case payment is made to Individual or HUF)
4. TDS only if amount exceeds Rs. 1, 20,000

So the society has to deduct 20%+surcharge+ Education cess. Anyway it is better to consult a Income Tax consultant and take his advise.

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