Tds sec 194ia & 194ib
This query is : Resolved
02 April 2015
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 ?
Kindly suggest me if i file ITR for asking refund of TDS then department will issue a refund in such case ?
02 April 2015
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
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
