TDS on rent
This query is : Resolved
08 April 2011
Hi,
I have a doubt about tds on rent
one of our client, who paying rent above 1.80 L , was not deducted tax
But they deducted in march tax on total amount
then, the owner told that they will pay tax on their rental income while filing their return, and no need for tds, and he will give a declaration if required on this matter
Is it allowable?
Is there such option in Income tax
Pls give me right answer
I have a doubt about tds on rent
one of our client, who paying rent above 1.80 L , was not deducted tax
But they deducted in march tax on total amount
then, the owner told that they will pay tax on their rental income while filing their return, and no need for tds, and he will give a declaration if required on this matter
Is it allowable?
Is there such option in Income tax
Pls give me right answer
08 April 2011
The tenant has to deduct tax as per section 194I of the Income tax Act,1961. If the land lord do not seek such deduction, he/ she has to obtain a certificate of no deduction / deduction at a lower rate from his /her income tax Officer and upon production of that certificate the tenant can act accordingly. No other documentation is possible according to law for no deduction.
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