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

122°
Critic
Budhe-Baba

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?

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Deal Subedar Deal Subedar
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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

Critic Critic
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Thank You. Karma Given to you and DealBraker

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

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Deal Subedar Deal Subedar
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.

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

Deal Lieutenant Deal Lieutenant
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@Budhe-baba

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Deal Subedar Deal Subedar
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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

Entertainer Entertainer
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52000 where size Location ?

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

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