Tds issue 194 i rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 September 2016
We are received rent income for F.Y 2015-2016 196000/- form bank
We are apply pan card dec-2015 & Submition in bank Dec-2015
bank is deduction of tds 20% 170000/- @ 20% 34000/-
& tds 10% 19600/- total tds deducted 53600/-
My question is bank liability tds is cross limit 180000/- after deduction of tds or before f
Notes; We are cross 180000 before pan card submition of bank.
We are apply pan card dec-2015 & Submition in bank Dec-2015
bank is deduction of tds 20% 170000/- @ 20% 34000/-
& tds 10% 19600/- total tds deducted 53600/-
My question is bank liability tds is cross limit 180000/- after deduction of tds or before f
Notes; We are cross 180000 before pan card submition of bank.
CA R SEETHARAMAN
(Expert)
22 September 2016
If the bank knows the annual rent payment will exceed 1,80,000 they have to deduct TDS from first month rent before crossing the limit.
kamlesh parmar
(Querist)
22 September 2016
thank you very much sir
CA Sumiit B Nagpal
(Expert)
23 September 2016
You can request the bank to revise the TDS returns filed earlier and then you can get the credit of 20% tax deducted otherwise not.
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