FILING OF TDS RETURN ON RENT AMOUNT SECTION 194IB

This query is : Resolved

ram nagesh (Querist)
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19 April 2023 Rent relating to February 2022, is paid by society in the month of December 2022 by deducting TDS as the payer was unable to pay until December 2022.
1. While filling challan into bank, which assessment year in to be mentioned i.e whether AY 2022-23 or 2023-24?
2. How rent receiver can claim TDS for AY 2022-23, as he already submitted return of income and information was issued AY 2022-23?
3. Since the payer has credit the account of receiver in the month of December 2022, for the rent due for the month of February 2022, whether he is liable to pay any interest or penalty for late deductions of TDS and payment to government?
4. If the receiver follows mercantile being a company and shown as rent receivable in the Balance sheet (2021-22), then how if can claim TDS for assessment year 2022-23 which was not paid by the payer?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 April 2023 1 It's 2023-24.
2 Doesn't arise in view of above.
3 No interest payable as TDS deducted on receipt basis.
4 claim TDS in next year.

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