Dear All,
Our Client (individual) had let out his building on rent for Rs. 30,000 p.m. and thus his income for the year from rent is Rs. 3,60,000 (30000*12). The concerned tenant (a company) has deducted the tax at the rate prescribed i.e., 10% but has shown 3,68,000 as the rent paid and has accordingly deducted 36,800 as TDS.
Now, in the clients' 26AS, the amount credited is showing as Rs. 3,68,000 and the tax deducted and TDS deposited is showing 36,800. But, the client has not received the 8000.
If my client has any other income, how is this extra income of Rs. 8000 against which TDS has been deducted going to affect his tax liability when he files his returns??
Regards,
Vidhya
CAclubindia
