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NRI Rent Payment vs TAN

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Rent payment per month exceeds 50000/- per month . Two owners are there

One Owner is Resident & another

Owner of the property is non resident.

1.Is Tds applicable ?

2.Do we need TAN ?

3.What if NRI has no PAN ?


These three queries are independent
Replies (4)

NRI must have PAN. Apply now

What is the share of NRI in the property? He accordingly should take proportionate rent after deduct ing 30% TDS (By tenanat)

TDS on Rent Paid:

Under section 195 of the IT Act, rent received by an NRI on property located in India, TDS at the rate of 30% of the rent paid should be deducted by the payer. The NRI receiving the rent can make a formal request to the jurisdictional officer for a lower TDS deduction

See the link pl

https://www.bankbazaar.com/tax/procedure-for-computing-income-tax-on-rent-for-nris.H T M L

Better consult consultant

 

It's not combined question..Three are independent situations..

NRI has 50% share

There is no requirement for an NRI to have a PAN.

TDS will be applicable @ 31.2 %.

You don't need a TAN.

You can make the TDS payments using your PAN and the non-resident' contact details and home country tax information through a challan created specifically for this purpose : 26QC.

We have tried 26QC but when you click the owner status as Non resident it is asking to go by Section 195 .


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