Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

TDS ON RENT since the rent exceeds RS.50000

18 April 2022

MY client has deducted TDs on rent for FY 21-22 .on18/4/2022
is he pay any interest if he deposited the same within one week

Reply
Follow
Share

12 Replies

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 18 April 2022

Not required if it is deducted on the March Rent..

When was the March rent paid ?

2 Like

Upgrade to CAclubindia Pro. Subscribe Now!

CA Aakarsh Jain (CA) (10421 Points)
Replied 18 April 2022

On interest is payable if TDS belongs to march month only as last day of payment for march month TDS is 30 april 2022.

1 Like

sabyasachi mukherjee (27211 Points)
Replied 18 April 2022

What's the rent per month?
But generally the rent is upgraded every eleven month conventionally.

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 19 April 2022

But Section 194IB is relevant in this case and Tds has to be deducted once in a year for Form 16C purposes

2 Like

sabyasachi mukherjee (27211 Points)
Replied 19 April 2022

I do not think so.

Upgrade to CAclubindia Pro. Subscribe Now!

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 19 April 2022

Read form 16C rules and Tds on rent for non audit cases

1 Like

Vijay Mohan (637 Points)
Replied 19 April 2022

He is paying whole year rent for 21-22 FY
in April 22. shall he liable to pay interest
on tds

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 19 April 2022

It's not whole year rent but Whole year Tds on rent ..

Read 194IB once

1 Like

Vijay Mohan (637 Points)
Replied 19 April 2022

Yes. whole year TDS. FOR 21-22 FY
INTEREST APPLICABLE

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 19 April 2022

As per 194IB whole year has to be deducted while paying rent for March .

So if March month rent paid in April then deadline is 30.05.2022 .So no internet is applicable and 15th June will be deadline for Form 16C..

There will be 30days time from the end of the month in which Tds is deducted ..

Read 194IB and form 16C rules

3 Like

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27211 Points)
Replied 22 April 2022

March month rent paid in April. Generally interest is not applicable.