Tds on rental

TDS 647 views 14 replies

hello

i have leased my land to Jio telecom for erection of tower for which they pay Rs.20,000/- pm in my fathers' name. they actually pay Rs.18k after deducting Rs 2k as TDS. they have now issued me form 16A towards the deduction. 

 

how can we claim the deducted TDS refund (process) and how much amount will be refunded to me? 

 

p.s. my father is an agriculturist and has some agricultural income though less amount..

 

thanks

Replies (14)
file your father's return and claim refund.
If the rental amount is more than or equal to Rs.50000/ per month only, TDS to be deducted by the JIO.how they deducted tds in your father case?
Also it suggested to check Form 26 AS to see of they have paid such TDs

They are deducting tds because it's cross the threshold limit of Rs. 1,80,000/-

Tds is only refundable if your father's total income is not taxable........

This threshold limit is increased to Rs.240000/- per year in 2019 Feb budget for next FY 2019-20.is it correct?

yes correct.

thanks.
May I know in which section it is coming?

194I (b)

As per Finance Act 2017,"TDS on rent" under section 194-IB says
1.All individuals or HUFs paying monthly rent to a resident more than Rs.50000/- are liable to deduct tds.
2.Tax at the rate of 5% w.e.f June 1,2017.
3.form 16C to be issued to the owner by the tenant after filling 26QC form.
so where is the question of exceeding threshold limit of 180000/240000 per year in this case?
pl clarify.
Originally posted by : anup
hello

i have leased my land to Jio telecom for erection of tower for which they pay Rs.20,000/- pm in my fathers' name. they actually pay Rs.18k after deducting Rs 2k as TDS. they have now issued me form 16A towards the deduction. 

 

how can we claim the deducted TDS refund (process) and how much amount will be refunded to me? 

 

p.s. my father is an agriculturist and has some agricultural income though less amount..

 

thanks

 

File Your father's ITR and Claim refund... As per Your query May be all the amount is refundable...

 

Good Luck...

I just called jio people and asked them how they are deducting tds if rental is below 50k pm. He said its their standard practise across India, coz some people may have 5 jio towers. So it's difficult for them to track.

What about threshold? 240000 is the total income from all sources? Or just rental?
As per sec 194I threshold limit is 1.80k. So, TDS applicable on the above said Rental income...

File Your father's ITR and claim the TDS as Refund...
Dear Anup
the present threshold of annual rental amount from land/Building by company to individual is Rs.180K.so in your father case this received rental amount is more.so 10% they have deducted as tds. but the form they have given to ur father suppose to be form 16c and not form 16A.this form 16A to be given by banks to FD deposit holder.
so pl ask jio people to give correct form.
for next year if ur father not enhanced the rental amt, then the threshold is 240K from FY 2019-20.
so no tds to be deducted by jio people.
just for information only.

Hi Anup,

Check your Form 26AS whether TDS deducted by them has been reflected in it. Then file your father's ITR. You can claim refund only if your father's total income is less than 2.5 lakhs. Good luck.

 


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