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Tds on advance rent-adjustment

This query is : Resolved 
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(Querist)
28 February 2012
Dear Sir

One of my client has received an amount of Rs 20.00 Lakhs towards advance rent which will adjusted against monthly rent for 12 Months.The tenant intends to deduct TDS on entire amount.

My Client does not have sufficient taxable income in the year 2011-12

Please advice me,Can we claim the TDS refund or Not ? OR the same tds will be adjusted for future income tax.

reply soon

V V N Murthy
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
28 February 2012 TDS shall be deducted by the tenant irrespective of the land lord having taxable income or not.. the land lord shall require to file the return and claim the tds as refund after adjustment of the taxes if any payable..
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