Higher rate of tds

TDS 396 views 1 replies

Ashish

Partner

24 Points Joined July 2012

Dear All

I have given out a premises on rental. The tenant is deducting TDS @ 10% as per the norms. I would like the Deductor to deduct TDS at 20% so that at the end of the year, I do not have any liability at the time of filing my IT returns. Can anyone please inform, if this is allowed or not? And if allowed, under what Section of the IT Act?

rgds

Replies (1)

CA Ashish Pathak

Employed at Cipla Ltd.

2779 Points Joined April 2011

No this cannot be done. Tax is to be deducted at Higher rate of 30% if the deductee refuses to give his PAN to the deductor and in that case you may not be able to get credit for tax so deducted.