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.
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...??