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Tds issue 194 i rent

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2016 We are received rent income for F.Y 2015-2016 196000/- form bank
We are apply pan card dec-2015 & Submition in bank Dec-2015
bank is deduction of tds 20% 170000/- @ 20% 34000/-
& tds 10% 19600/- total tds deducted 53600/-

My question is bank liability tds is cross limit 180000/- after deduction of tds or before f

Notes; We are cross 180000 before pan card submition of bank.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 September 2016 If the bank knows the annual rent payment will exceed 1,80,000 they have to deduct TDS from first month rent before crossing the limit.
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kamlesh parmar

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kamlesh parmar (Querist)
22 September 2016 thank you very much sir
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CA Sumiit B Nagpal

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CA Sumiit B Nagpal (Expert)
23 September 2016 You can request the bank to revise the TDS returns filed earlier and then you can get the credit of 20% tax deducted otherwise not.

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