Any CA here? Have a Tax query related to Rent paid.

106°
Deal Lieutenant
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A relative of mine is renting a place worth 52000 per month to landlord.

Now according to new section, if rent paid is above 50k per month, then he needs to be deposit 5% tax via form 26QC to government.

Does this mean he will have to pay only 95% of 52k? Because TDS to be deposited will be 5%?

Or is it 95% of “amount over 50k”?

Or will be pay complete 52k to landlord and additionally also deposit 5% of 52k (or 5% of 2k) to government?

15 Comments  |  
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95% of 52k shall be paid and the balance 5% shall be deducted as tds and to be deposited by the deducter
@Budhe

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tag feature is falling…
not being able to tag budhe-baba

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U need to deduct TDS (@5% rent paid from April to March) from March month rent and pay to the government
Rest all months , u can pay full amount

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chipi wrote:

tag feature is falling…
not being able to tag budhe-baba

Use the below format to tag. Replace XX by username.
@@[email protected]@

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chipi wrote:

95% of 52k shall be paid and the balance 5% shall be deducted as tds and to be deposited by the deducter
@Budhe

Thank You. Karma Given to you and DealBraker

And how will landlord then claim back this 5% amount?

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Budhe-Baba wrote:

Thank You. Karma Given to you and DealBraker

And how will landlord then claim back this 5% amount?

In the tax return as tds

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Budhe-Baba wrote:

Thank You. Karma Given to you and DealBraker

And how will landlord then claim back this 5% amount?

he will have to file his IT return to claim the TDS

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Budhe-Baba wrote:

Thank You. Karma Given to you and DealBraker

And how will landlord then claim back this 5% amount?

Filling returns IT

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Budhe-Baba wrote:

Thank You. Karma Given to you and DealBraker

And how will landlord then claim back this 5% amount?

just fill the form 26qc at the time of deposoting TDS and quoting the PAN of landlord….that tds will be shown in 26AS form of Landlord and landlord can claim that tds….no need to file tds return

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OnlineBewda wrote:

52000 where size Location ?

Bewda ask only on – line ?
No off – line diversions.

Missing