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Tds for rent, can be withdrawn by owner every year?

TDS 143 views 7 replies

I'm a land owner for a 600 sqft shop, I have given it for rent to a person at a monthly rent of 25000,

But now he is telling me like he will give me only 22500 by detucting 10%(2500), it is for my GST pay,

And he also told me that I can withdraw this amount at the end of every year, that means for the 12 month(2500*12 = 30000), Is that True?

My question is:

Can I allow him to do so?

Do I need to register this in my income tax or GST(my annual income is only 300000?

Replies (7)
Yes, you can take refund of TDS deducted by tenant after filing of ITR.

Thank you so much for your response,

Can you please let me know how to file ITR?

No registration is required under GST, you can file ITR after quarterly TDS certificates recd from tenant. For detailed knowledge of ITR filing please go to incometaxindiaefiling site

Thank you very much!

Hi,

Is it necessary for the income 300000 per year?

https://www.incometaxindiaefiling.gov.in/help/?lang=eng this can help to guide through e-filing
Yes it is necessary to file return as it gross income after deduction exceeds basic exemption limit


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