TDS


This query is : Resolved 

Quick Summary
This discussion clarifies whether a female property owner aged 70 is liable for deducting Tax Deducted at Source (TDS) on rental income exceeding £500,000 annually. It's confirmed that TDS is deducted on payment, not receipt, and the owner is not liable in this scenario. Additionally, it addresses the refundability of TDS deducted by a builder from a buyer during a property purchase five years ago, stating that such refunds can no longer be claimed.

(Querist)
24 January 2021 WHETHER A FEMALE OWNER AGED 70 YEARS... BEING LIABLE FOR DEDUCTING TDS ON RENT RECEIVED BY HER FOR HER PREMISE' S RENT EXCEEDS ..RS. 500000 YEARLY...??

24 January 2021 Not at all. Also TDS deducted on payment not on receipt. Refer Sec 194I

Deepak Kumar (Querist)
01 April 2021 Thanks....for... TDS ..info

Deepak Kumar (Querist)
01 April 2021 TDS...deducted ..by Builder from the Buyer..at the time of PROPERTY PURCHASE... 5 years ago .. Now whther the TDS refundable ..??

03 April 2021 NO, NOW YOU CANT CLAIM SUCH REFUND.


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