TDS on JOINT ACCOUNTS

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....DS on JOINT ACCOUNTS<br> Query (Issue) Started By: - siva bevara Dated:- 26-4-2016 Last Reply Date:- 26-4-2016 Income Tax<br>Got 1 Reply<br>Income Tax<br>Hi, We have rented our house to a Bank. Its a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... joint property (on my name and my brother). They are paying Rs/- 2,98,800 as rent for both of us (Rs/- 1,49,400 per person) annually. They are depositing this amount to our joint account. Bank peop....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....le saying they need to deduct tax there. My question is 1) As the total amount does not exceed &quot;2,50,000/-&quot; per person, should they deduct the TAX? 2) If they are deducting is there any pr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ovision to give TDS forms to me and my brother? Please help. Regards, SivaPrasad.B Reply By Ganeshan Kalyani: The Reply: In my view the income slab of each individual is considered separately to a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rrive at taxability. Therefore you may ask them why there are going to deduct TDS. Secondly if they deduct TDS then they are supposed to issue you TDS certificate in Form 16A. The claim of the certif....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....icate can be availed while filing of income tax return . Thanks<br> Discussion Forum - Knowledge Sharing ....