Tds on house rent
Querist : Anonymous
i am receiving monthly rent of 38,000/- by cheque,but my tenant is deducting any TDS.My question is,
a)Is it correct?
b)If he deduct the TDS how much he need to deduct?
c) whether this TDS refundable to me?
pl.suggest to me
Thanks and regards
shiva.hp
it will be adjusted with your total tax liability for the year.
Collect Form 16A from tenant
2. He will deduct 3800 TDS P.M.
3. Taxable Income Caculate:-
Total Rent Received - 456000/-
Less:- Municipal Tax - ( 6000 )
Gross Total Income - 450000
Less:- Standard Deduction 30% - (135000)
Interest on Loan if any ( )
Taxable Income (315000)
0-180000 NIL
180001-500000 - 135000*10% = 13500
Your TDS Deduct - 3800*12=45600
Less:- Taxable income (13500)
Refund - 32100
Querist : Anonymous
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