INCOME FROM HOUSE PROPERTY

Others 260 views 8 replies
Rent received:1110000
TDS Deducted by tenant : @ 5%
=55500
while filling ITR by landlord can he take credit of TDS DEDUCTION of 55500 in his ITR.
and What is the treatment of TDS Deducted in the ITR of Landlord.
Replies (8)
Yes, the landlord has to take credit of the tax deducted on rent. It's similar to tax deducted by bank on fixed deposit interest.
did I do the entry of challan of TDS Deposited.
Yes, the challan is form 26QC.
thank you for giving your important time to me.
you're welcome .
is it a prepaid taxes

Recently a news  has come on House property deemed rent was considered as ZERO by master blaster cricketer. ITAT took sides of the taxpayer saying that "if concrete effort to rent out property was made and yet no tenant was found, then the taxpayer is allowed to consider the deemed notional rent as NIL".

Can this ITAT ruling become applicable to all 8 crore tax return filers?

Rent is earnings of landlord.. Calculate the amount of tax liability and take the credit against tax liability


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