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Tds on rent paid

Ashok Kelkar (B.Com) (143 Points)

28 February 2016

My Question is

If Rent Paid to landlord more than Rs. 180000/- p.a. then TDS @ 10% is required to deducted

Now how the TDS will be Deposited??

What is the Challan No.? and under which PAN is to be depodited?

How Assessee Or Lionsensor can claim effect of TDS?

Whether an Assessee can get Refund if the Income is below thresh hold Limit?

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1 Replies

Jayesh NP (Tax Practitioner) (172 Points)
Replied 29 February 2016

1. TDS has to be deducted @ 10% if Rent for the year is greater than 1,80,000

2. TDS has to be deducted when it is due or paid which ever is earlier.

3. TDS has to be deposited on before 7th of the suceeding month by using Challan No 281 except for the Month March and before 30 th April for the month March.

4.TDS return has to be filed with in 15 days from the succeeding Quarter ( ie, 15th of July,October, January and May)

5. TDS certificate form Traces has to be issued before 15 days from the due date of filing TDS return.

>You have to obtain TAN and which is required to be quoted in Chellan.

> PAN of the deductee is required to be filled in the relevent columns of TDS return.

> When you are completed the return filing process the TDS will be be credited to the deductees accounts and the same can be set off against I T Payale and balane if any will be refunded ( To get refund deductee have to file Incometax Return even if he has no taxable income)