ITC

This query is : Resolved

SRIKANTA (Querist)
Follow

08 December 2020 Sir I am a Restaurant Business Owners food services can i take itc on rent paid towards the building where the business situated.Now i am not taking ITC and simply charging @5% towards my sales bills without taking itc on purchased items, now quation is can i take itc rent paid to my house owner
and can i deduct tds towards rent paid.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 December 2020 ITC can't be taken on rent paid. TDS can be deducted on rent paid.

SRIKANTA

SRIKANTA (Querist)
Follow

09 December 2020 sir i don't have tan no how to deduct tds.
without tan can i deduct tds please guide

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

10 December 2020 You have to deduct TDS only if your turnover is more than 1 crore.

SRIKANTA

SRIKANTA (Querist)
Follow

11 December 2020 No sir on house rent paid by me towards my shop situated ie arround 12 lakh paid in a year. so my quation is tds how to deduct with out tan

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

12 December 2020 TAN not required in this case. TDS under section 194IB

The tenant is required to deposit TDS by filing Challan-cum-Statement in Form 26QC. The tenant is liable to make a deposit of the deducted TDS within a period of 30 days from the end of the month in which TDS is deducted [Rule 30 (2B)].

Following are the steps which the tenant should follow in order to file Form 26QC –

1. Visit site https://www.tin-nsdl.com/.

2. Navigate the path Services > TDS on Rent of Property.

3. Click on ‘Online form for furnishing TDS on Rent of Property (Form 26QC)’.

4. Under e-payment of Taxes, go to ‘TDS on Rent of Property (Form 26QC)’ and click on ‘Proceed’.

5. Step by step, fill up the Form 26QC and submit.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rajasekar

Jayanti Visani

JACOB ABRAHAM KURIALANICKAL

Sneh Choraria

AJAY Kumar Agrawal

Subscribe Now

ITC

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA