If a person has to pay monthly rent (INR 50K+) for a residential property to an NRI in a NRO account in an Indian bank account in INR - is it necessary to fill form 15CA/15CB?
29 January 2024
It's payment to NRI. 27q applicable 195 TDS at 30% with cess applicable. As per section 195 of the Income Tax Act of 1961, tenants must deduct a TDS of 31.2% from the rental amount if their landlord is an NRI
Have prepared form 27Q file using RPU software, however I am getting validation error mentioned below
- T-FV-4111 Date on which Amount paid/Credited/Debited must be within the Financial Year and before the End Date of Quarter.
I am filing TDS Return 27Q for Q3 (Quarter Ending 31st Dec 2023 and TDS Return Date of 31st Jan 2024)
For month of October 2023 - TDS paid on 5th November 2023 For month of November 2023 - TDS paid on 5th December 2023 For month of December 2023 - TDS paid on 5th January 2024
It seems, the error is thrown only when I enter TDS details for the month of December 2023 which was paid on 5th January 2024. I am using the TDS payment dates for Date of Payment and Date of Deduction in RPU software.
If I remove the entry for December 2023, the TDS return file is VALIDATED.
So how do I include the details of TDS deduction for the month of December 2023 or am I required to only include details of TDS deduction for the months of October 2023 and November 2023 for quarterly TDS returns for quarter ending on 31st December 2023 (Q3)?
CAclubindia
