Tds on rent

This query is : Resolved

Himanshu Mehta (Querist)
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09 May 2012 Mr "A" is a Director in company "D" & He has Rented out a residential property to a Company "B" on a monthly rent of Rs. 30000. Company "B" deducted Rs. 3000 as TDS. Mr "A" has a loan on the said property and has paid Rs. 200000 towards home loan interest.

At the end of the year Mr "A" submitted Form 12C to the Comapny "D" in which he also declared the TDS amount that Company "B" has deducted.

So when an accountant of company "D" files the TDS return of Company "D". So at the time of computation of TDS on salaries, can this accountant consider the TDS already dedcuted by Company "B"?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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09 May 2012 While computing TDS on salaries the employer shall consider any other income disclosed by the employee and TDS deducted from such income.

Himanshu Mehta

Himanshu Mehta (Querist)
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10 May 2012 Sir, my problem is different. I want know while preparing TDS Return of the company, How accountant of the company will take credit of the TDS on the income declared in Form 12C

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