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Tds sec 194ia & 194ib

This query is : Resolved 

Property in name of my grand father and he let out to bank. then bank deduct the tds under 194IA & IB as shown in 26AS AY 2014-15. i thought it was an wrong sec submitted by bank in TDS return.

Kindly suggest me if i file ITR for asking refund of TDS then department will issue a refund in such case ?


U/s 194I(a) Rent of Plant & Machinery if Exceed Rs.180000/-P.A Tds is @2%

U/s 194I(b) Rent of Land Building & Furniture if Exceed Rs.180000/-P.A Tds is @10%

If Bank Deducted Tds & Issued to Your Grand Father & If your Grand father File Income tax Declaring all Income , If TDS deducted is More than the Actual Payable , Same can be adjusted against tax payable , Excess TDS can be Claimed as Refund


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