Tenant is paying rent in single name but house has co-owner. Tenant is also depositing TDS in single name as rent agreement is in single name . Please advise how to file income Tax return ?
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183179 Points)
Replied 19 February 2025
The rent agreement needs to be modified and the TDS deductions should be as per ownership of both the owners. ITRs should be filed by declaring rental income divided in both owners' file.
Sunil
(GM)
(99 Points)
Replied 20 February 2025
Thanks that was the correct way . Tenant has already deposited 100% TDS in one pan account. What is the other way of correcting now even if it leads to additional tax burden on one or both the co-owner? Can I file the return as per any of the below options?
1) Double the rent in both the co-owners income tax return to match the rent and TDS figures
2) 100 % rent and tds in one account and no mention of rent and tds in other co-owner return ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183179 Points)
Replied 20 February 2025
The correct way would be to divide the rent along with TDS to declare 50% rent income in each PAN.
Sunil
(GM)
(99 Points)
Replied 20 February 2025
Window for Correct way of doing things is closed . I am looking for another option.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183179 Points)
Replied 20 February 2025
As such no other option, may wait for any query. Exercise the correct option in next ITR.
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