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Tds on rent

neha (CS) (292 Points)

01 August 2011

HI ALL,

FOLLOWING IS THE CASE:-

WE HAVE A OFFICE TAKEN ON RENT FROM A,B,C & D THROUGH THEIR POA 'X'.

RENT AGREEMENT EXECUTED LIKEWISE.

RENT OF Rs. 20000 P.M. IS PAID TO 'X'.

ANNUAL RENT EXCEEDING RS.1.8 SO TDS IS DEDECUTED.

NOW THE POA HOLDER 'X' WANTS THE TDS CERTIFICATE TO BE ISSUED IN THE NAMES OF ORIGINAL OWNERS A,B,C&D.

IS IT POSSIBLE???

PLEASE EXPLAIN.

THANKS

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4 Replies

Ketul (Article) (29 Points)
Replied 01 August 2011

Dear Neha, For this question you require to refer POA, if in POA it is clearly mentioned that right to receive rent is of 'X' then it will be treated as income of 'X' and in that case TDS certificate can be issued only in the name of 'X'.

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Ravishankar K (Accountant) (461 Points)
Replied 01 August 2011

While filing quarterly return whose PAN no you quoted? I guess it would be Xs pan No. since every month you are making cheque in name of Mr.X.

So tell Mr. X that TDS certificates will be issued in his name or issue TDS certificate in name of person whose PAN you quoted for quarterly IT return .

Mihir (Wealth Manager) (5293 Points)
Replied 01 August 2011

If you are issuing TDS certificate, you must have already deducted and deposited the TDS and filed TDS returns. What name and PAN number you have mentioned in filing TDS returns?