Dear respected concern
Property is two year old and i decided to rent starting from this year. My new tenant is claiming HRA and he may likely give me the TDS certificate , do i require to show the same in IT RETURN.
rgds
nakul (MBA) (52 Points)
27 September 2014Dear respected concern
Property is two year old and i decided to rent starting from this year. My new tenant is claiming HRA and he may likely give me the TDS certificate , do i require to show the same in IT RETURN.
rgds
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 27 September 2014
Pl explain in details
Mihir
(Wealth Manager)
(5293 Points)
Replied 27 September 2014
If your tenant is deducting TDS from your rental income, you will have to show this income in your ITR and claim TDS credit.
nakul
(MBA)
(52 Points)
Replied 29 September 2014
Dear Tapse sir..
Do authority will ask for uses of that property for last two years..since TDS deduction will be done from this year only.
rgds
Sanjay Mittal
(Financial Advisor)
(29 Points)
Replied 03 October 2014
Dear Nakul,
TDS is applicable, if rent is more than one lac eighty thousand per annum.
Also, you need to give self certified PAN copy to your tenant, if rent is more than one lac per annum.
You should add rent income in your total income no matters whatever may be annual rent. You will be entitled for some exemption while filing return.
CAclubindia
