TDS excess paid u/s 26QC

The TDS rate change from 5% to 2% under Section 194IB has caused a discrepancy in the tenant's 26AS. To resolve this and retrieve the excess 3% TDS: Step 1: Tenant Files Revised 26QC 1. *Revised 26QC*: The tenant should file a revised 26QC, correcting the TDS rate to 2%. 2. *Acknowledgment*: Ensure the tenant receives an acknowledgment for the revised 26QC. Step 2: Claim Refund of Excess TDS 1. *Tenant Files Income Tax Return*: The tenant should file their income tax return, claiming the excess TDS (3%) as a refund. 2. *Rectification of 26AS*: Once the refund is processed, the tenant's 26AS will be updated to reflect the corrected TDS amount. Step 3: Alternative Option - TDS Certificate from Deductor 1. *Deductor Issues TDS Certificate*: The deductor (landlord) can issue a TDS certificate to the tenant, mentioning the excess TDS amount (3%). 2. *Tenant Claims Refund*: The tenant can claim a refund of the excess TDS amount by filing their income tax return. Important Considerations: 1. *Time Limits*: Ensure the tenant files the revised 26QC and claims the refund within the stipulated time limits. 2. *Documentation*: Maintain all relevant documents, including the revised 26QC, acknowledgment, and TDS certificates. Consult a tax professional or chartered accountant to ensure the correct procedure is followed and the excess TDS amount is retrieved.

Tenant is deductor, not landlord...

Anyone else on this?

Hello sir, 

Can we revised the 26QC and adjust the excess 3% tds amount to landlord PAN instead of refund process.

Kindly help