TDS credit reflected under one co-owner's PAN should be fully allowed where other co-owners neither claim nor seek transfer.

TDS credit reflected under one co-owner's PAN should be fully allowed where other co-owners neither claim nor seek transfer. https://www.taxtmi.com/highlights?id=102546 TDS credit on rental income from jointly owned property is ordinarily governed by section 199 and rule 37BA, which provide credit to the deductee and require prescribed declarations and reporting for transfer to another person assessable on the income. Where the entire TDS was deducted and reported against one co-owner's PAN, no transfer declaration was furnished, and the other co-owners neither claimed credit nor objected to that co-owner's claim, the entire credit should be allowed to that co-owner. Procedural requirements cannot permit the Revenue to retain TDS where no other person seeks the unclaimed credit. en-us Mon, 10 Aug 2026 12:13:10 +0530 Mon, 10 Aug 2026 12:13:10 +0530 TaxTMI RSS Generator TDS credit reflected under one co-owner's PAN should be fully allowed where other co-owners neither claim nor seek transfer. https://www.taxtmi.com/highlights?id=102546 TDS credit on rental income from jointly owned property is ordinarily governed by section 199 and rule 37BA, which provide credit to the deductee and require prescribed declarations and reporting for transfer to another person assessable on the income. Where the entire TDS was deducted and reported against one co-owner's PAN, no transfer declaration was furnished, and the other co-owners neither claimed credit nor objected to that co-owner's claim, the entire credit should be allowed to that co-owner. Procedural requirements cannot permit the Revenue to retain TDS where no other person seeks the unclaimed credit. Highlights Income Tax Mon, 10 Aug 2026 12:13:10 +0530 https://www.taxtmi.com/highlights?id=102546