TDS ON RENT since the rent exceeds RS.50000

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 18 April 2022

Not required if it is deducted on the March Rent..

When was the March rent paid ?

CA Aakarsh Jain

CA

10436 Points Posted on 18 April 2022

On interest is payable if TDS belongs to march month only as last day of payment for march month TDS is 30 april 2022.

sabyasachi mukherjee

Profession Business

28207 Points Posted on 18 April 2022

What's the rent per month?
But generally the rent is upgraded every eleven month conventionally.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 19 April 2022

But Section 194IB is relevant in this case and Tds has to be deducted once in a year for Form 16C purposes

sabyasachi mukherjee

Profession Business

28207 Points Posted on 19 April 2022

I do not think so.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 19 April 2022

Read form 16C rules and Tds on rent for non audit cases

Vijay Mohan

670 Points Posted on 19 April 2022

He is paying whole year rent for 21-22 FY
in April 22. shall he liable to pay interest
on tds

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 19 April 2022

It's not whole year rent but Whole year Tds on rent ..

Read 194IB once

Vijay Mohan

670 Points Posted on 19 April 2022

Yes. whole year TDS. FOR 21-22 FY
INTEREST APPLICABLE

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 19 April 2022

As per 194IB whole year has to be deducted while paying rent for March .

So if March month rent paid in April then deadline is 30.05.2022 .So no internet is applicable and 15th June will be deadline for Form 16C..

There will be 30days time from the end of the month in which Tds is deducted ..

Read 194IB and form 16C rules