Paying Rent over Rs.50,000 pm – Deduct 5% TDS
Are you an Individual*/HUF* paying rent over ₹50,000 per month?
Deduct & Deposit 5% TDS
(*except those liable to audit under clause (a) and (b) of section 44AB of the I.T. Act, 1961)
Deposit the TDS through e-payment or at authorised bank branches!
Deduct TDS @5% of the rent for year, at the time of credit/payment of rent of March, 2019 (or in the last month of the tenancy, if property is vacated earlier)
- Upload details of tax deducted along with correct PAN of the Landlord in Form No. 26QC (www.tin-nsdl.com) (The tenant is not required to obtain TAN)
- Deposit TDS online through NET Banking/Debit Card or at authorized Bank Branches
- Download and issue TDS certificate to landform in Form No. 16C from TRACES website (www.tdscpc.gov.in)
ADVISORY TO LANDLORD:
- PROVIDE YOUR PAN TO THE TENANT
- VERIFY TAX DEPOSIT IN YOUR FORM 26AS
- INSIST OF FORM 16C FROM THE TENANT
Detailed procedure, list of Bank branches authorized to accept TDS and Frequently Asked Questions (FAQs) are available on website [email protected]
Download “AAYKAR SETU”
Taxpayers Services Module & Mobile Application
Income Tax Department
Central Board of Direct Taxes
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- Certificate for Tax Deducted at Source in Part B of Form No. 16 through TRACES
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