I have a flat that I own and my parents stay there for the past few years. I do not receive any rent from them. They are dependents on me. I am currently residing in another flat (currently on loan and with joint ownership with my wife). I just learnt that I have to submit ITR 2 with details of both houses and consider my first flat as 'deemed to be let out'. I do not have any other sources of income than my salary from the employer.
In this context, I have the following questions:
1. What will be the actual amount of expected rent? Will it be what my neighbor is charging? or is it something I can enter based on the estimate? 2. How can I declare this (old house) with my employer so that tax is deducted along with my salary? 3. Is it an offense to give this information only during the IT Returns?
10 July 2018
Sir, a couple of more questions. I have used the rent paid by my sister who stays in the same 2 BHK flat of similar size and filled the ITR 2. According to the form, I have to pay tax. When I try to pay online through the link (https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp) there are multiple options.
1. I assume that I have to make the payment through the form 26QC. Please correct me if I am wrong.
2. The PAN of the tenant is a mandatory field there but my father is a dependent on me and has retired more than 15 years ago. He does not have any PAN. How should I pay this tax amount?
30 July 2024
Given your situation, it sounds like you are dealing with the tax implications related to rental income from property, and you are trying to make a tax payment online. Let’s clarify the issues you’ve raised:
### 1. **Payment through Form 26QC**
**Form 26QC** is used for the payment of tax on rent by the tenant to the landlord under Section 194-IB of the Income Tax Act. However, this form is for the tenant to deposit tax deducted at source (TDS) on rent paid to the landlord. Since you are the property owner and are filling out the ITR 2 form (indicating that the rent is your income), you should not be using Form 26QC for paying taxes on your rental income. Instead, you should follow these steps:
- **Income Tax Return (ITR) Payment:** When you file your ITR, you need to pay the tax due based on your total income (including rental income) as calculated in your return. The payment should be made under the appropriate head of income. This is generally done through the online income tax payment portal.
### 2. **Making the Payment When Tenant Doesn't Have PAN**
If you’re making the payment for tax on rental income and not using Form 26QC, then PAN of the tenant is not required for making tax payments for your rental income. Here’s how you should proceed:
- **Income Tax Payment:** To pay tax on your rental income, follow these steps: 1. **Go to the Income Tax Payment Portal:** Use the official [Income Tax Department's e-Payment Portal](https://incometaxindia.gov.in/pages/tax-information-services.aspx) or the NSDL [e-Pay Tax Portal](https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp). 2. **Select the Right Tax Payment Option:** Choose the option for "Income Tax" and then select the relevant financial year and the type of payment (e.g., Self-assessment tax, Advance tax). 3. **Enter Details:** Provide your PAN and other required details. For self-assessment tax or advance tax, PAN of the tenant is not necessary. 4. **Generate Challan and Make Payment:** After entering the details, generate the challan and make the payment.
### **Important Points**
- **Rental Income Tax Filing:** Ensure that you have correctly reported your rental income and applicable deductions in your ITR. - **TDS Form 26QC:** If you were making a payment on behalf of a tenant or if you were filing a TDS return, the tenant's PAN would be required. However, for your rental income, this is not applicable. - **No PAN of Tenant:** As a property owner reporting rental income, you don't need the tenant's PAN for filing your ITR or making tax payments on your rental income.
### **Summary**
1. **Use the Income Tax e-Payment Portal** to pay your taxes related to rental income and not Form 26QC. 2. **PAN of the Tenant** is not required for making the tax payment for rental income if you are paying tax on your income.
If you have any further doubts or face issues with the online payment process, consider consulting a tax professional for personalized assistance.
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