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

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

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Deal Subedar
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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  |  
9 Dimers
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Deal Cadet
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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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Deal Cadet
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.

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

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Deal Cadet
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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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Deal Subedar
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chipi wrote:

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

@Budhe-baba

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Deal Subedar
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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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Deal Subedar
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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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Deal Cadet
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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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Deal Cadet
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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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Deal Newbie
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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

 20170305 121502
Entertainer
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52000 where size Location ?

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Deal Cadet
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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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Deal Subedar
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OnlineBewda wrote:

52000 where size Location ?

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

 20170305 121502
Entertainer
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Common-man wrote:

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

also tell DLC rate

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