Declaring of Rental Income

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31 Points Posted on 26 August 2020
The ownership of a particular property is on "A" as per partition deed between"A" and "B”.

But , the tenant deducts TDS in the PAN of "B" as it is let out property & it appeared in the 26AS of "B".

While filing ITR, the rental income of that property should be declared in whose ITR - "A" or "B" ?
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On 26 August 2020 at 22:57 Report
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Quick Summary
This discussion addresses who should declare rental income when the property ownership (as per a deed) differs from the PAN used for TDS deduction. The core issue is whether the owner ('A') or the individual whose PAN ('B') appeared on the tenant's TDS deduction should declare the income. It explores the implications of declaring income in 'A's IT Return when TDS is under 'B's PAN and discusses the possibility of the tenant revising their TDS return to correct the PAN.

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Practising CA
8954 Points Posted on 26 August 2020
Whatever is correct, do that. If it should come in PAN of A, ask tenant to revise the TDS return and update PAN of A and consequently offer income in A.
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On 26 August 2020 at 23:29
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31 Points Posted on 26 August 2020
The tenant is a nationalised bank & it's not easy to get the PAN updated soon ....... Party "A" has given the request to the bank & it's under process.

Now inorder to file ITR of FY 19-20 , if we declare the income with "A" and file the return , will any issue occur? I have the deed to prove that the property is owned by "A"
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On 26 August 2020 at 23:36
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56 Points Posted on 27 August 2020
As per my knowledge:

you can't claim tds. if you file income A?

updating tds details is only solution.

with Raj C Doshi's suggestion.
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On 27 August 2020 at 02:32
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Others
1012 Points Posted on 27 August 2020

Hi
To claim TDS, amount must reflect in 26AS and if that does not happens then taxpayer cannot claim the same. However, there are case when deductor files wrong amount or wrong PAN against the payment which he later revise in TDS returns.

If you think deductor can revise the return with correct PAN then you can claim your TDS else it's better to file Income tax return without claiming TDS.

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On 27 August 2020 at 03:47

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