Tds on rent u/s 194b
This query is : Resolved
18 June 2014
I have a salary income of Rs614500 p.a. and income from house property Rs.59040p.a.Though rent income is less than 180000p.a. but the payer has deducted tax of Rs.5904 @10%.I want to ask whether this practice is wrong?Because rent doesn't exceed the limit of Rs.180000.
Further while filing itr 1, will i take this tds of Rs.5904 in tds others(16 A Column) details or should i apply for the refund?
Further while filing itr 1, will i take this tds of Rs.5904 in tds others(16 A Column) details or should i apply for the refund?
Soumitra Basu
(Expert)
19 June 2014
THE TDS ON RENT IS NOT UNDER SECTION 194B BUT UNDER SECTION 194I. IT IS A WRONG PRACTICE. YOU SHOULD FILL IN THE OTHER DETAILS FORM NO. 16A COLUMN. IF THERE WILL BE REFUND IT WILL COME AUTOMATICALLY. THERE IS NO PROVISION FOR APPLY FOR THE REFUND.
Soumitra Basu
(Expert)
19 June 2014
THE TDS ON RENT IS NOT UNDER SECTION 194B BUT UNDER SECTION 194I. IT IS A WRONG PRACTICE. YOU SHOULD FILL IN THE OTHER DETAILS FORM NO. 16A COLUMN. IF THERE WILL BE REFUND IT WILL COME AUTOMATICALLY. THERE IS NO PROVISION FOR APPLY FOR THE REFUND.
21 June 2014
For house rent income declaration , use ITR2 foDonot use ITR1.
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