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26QC form filling for multiple landlords

TDS 723 views 1 replies

Jaya

Others

87 Points Joined July 2015

I need to fill 26QC and pay TDS on the rent as I am vacating by this month end. The rent I am paying is 60K per month and there are 2 landlords. So I know I need to submit two 26QC forms one for each landlord

Do I fill the 26QC for each landlord the following way

1 tenant and 2 landlords with equal share

The period of tenancy is 10 months (April 1 to Jan 31)
Total value of rent paid = 6,00,000
Value of Rent Paid in Last Month = 60,000
Amount Paid/Credited (in Rs.) = 3,00,000
TDS rate 5%
Amount of tax deducted at source = 15,000

Please advice if the above data is correct to be entered for each landlord.

Thanks in advance

Replies (1)

CA Raj Doshi

Practising CA

8944 Points Joined December 2013

Dear Jaya ji,

As per Section 194IB, the amount of rent paid to a resident ( 1 tenant ) is below 50K. So as such you are not required to deduct tds at all.

however, if you wish to file on conservative basis, then the values to be entered for each landlord are as below -

Total value of rent paid = 3,00,000
Value of Rent Paid in Last Month = 30,000
Amount Paid/Credited (in Rs.) = 3,00,000
TDS rate 5%
Amount of tax deducted at source = 15,000

Rgds-CA. Raj Doshi-R C D & Co.-Chartered Accountants- Kandivali West-Mumbai