28 December 2012
I believe the requirement of PAN of landlord would arise at the time of TDS deduction. Correct me if am wrong, but there is otherwise no requirement under Income Tax Act, to obtain PAN of the landlord.
Even when an employee is staying in rented property & claiming HRA exemption wrt to same, then he has to also submit PAN of landlord to his employer, if rent paid by him is more than 2 lac p.a.
28 December 2012
Looking Towards The Query, Its Clear That Query is Asked for 194I Limit, Though Only Author Can Confirm That, and Rest Agree With Above Both Experts Replies.
28 December 2012
Vaibhav, I stand corrected on this issue Either ways no PAN is required either under 10(13A) or 194-I if rent payment is Rs. 10,000/-
Since Philip has not clarified what he means by IT Purpose I will modify the answer as under
a) If you are an employee who is paying rent to a landlord exceeding Rs. 2,00,000/- in a financial year then landord PAN is a must. If landlord does not have PAN a declaration from landlord with his name & address should be filed with employer. (Circular no.8/2012)
b) If you are a deductor of TDS, then PAN is required if the rent payment exceeds Rs. 1,80,000/-. if landlord does not have PAN then you will have to deduct TDS u/s 206AA.@ 20%
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