TDS credit

Facts:

1)An amount of 10 lacs has been received as Advance Rent, which would be adjusted against Rent receivable over a period of 4-years.

2)This amount of Rent receipt would be claimed as an INCOME over the 4 year period (i.e.2.50 lacs in each year)

 

Query:

Can Tax deducted (TDS) on the entire 10 lacs in the year of receipt of Rental income be claimed over a period of 4-year, i.e. proportionately with the amount of income shown.

 

Replies (1)

dear rachit.

as per circular no 5/2001 dated 2-3-2001 ,the credit of tds shal be allowed to assessee in the same proportion in which such income from rent is offerred for taxation in different assessment years based on single TDS certificate

regards

SRIPAL JAIN

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