Calculation of fee,interest and penalty of tds on house rent

TDS 486 views 5 replies

House rent of Rs 55000 (per month) was paid by a tenent for four months from Aug 2017 to Nov 2017, but tenant forgot to deposit 5% TDS on house rent.

What will be the late fee, interest and penalty if tenant deposit TDS by e-tax Payment system on 14 march 2018.

Last monthly house rent was paid on 5 nov 2017.

Replies (5)
is he deducting TDS u/s 194IB or 194I?
TDS u/s 194IB

 
Time for deduction of TDS under 194IB is
at the time credit of such rent for the last month of the previous year or the last month of the tenancy if the tenant vacated in middle of the year

i am assuming in your query tenant vacated in middle of the year
if TDS is deducted TDS on last month rent i.e last day November 30th then
interest will be levied at 1.5% per month or part there of( in this case total interest will be 660).


if tenant is not vacated till now then there will be no interest and late fee
and total TDS on full rent has to be deducted in March itself

Yes, tenant vacated in the middle of the year.

Is there late filing fee of 200 per day, also?

yes
section 234E attracted
200 per day (maximum limit to TDS amount)
in this case last date for filling TDS return is 31st Jan 2018 so fee will start from 1st February to the date on which return is submitted


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