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Tds on lease rent payment
I am a banker. i have a query. landlord of bank premises has expired and his wife has no pan card. we are paying rent to his joint account with his wife..than how many percent tax will be deducted on payment of rent. Rent amount is 36000/-
Replies (3)
20% without PAN.
You should ideally deduct 20% in the name of wife. pan surrender is a long process.
The best is to communicate the fact to the department at the earliest
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