TaxTMI 
TaxTMI 
TDS FOR ARREARS OF RENT
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....DS FOR ARREARS OF RENT<br> Query (Issue) Started By: - MARIAPPAN GOVINDARAJAN Dated:- 10-11-2016 Last Reply Date:- 12-11-2016 Income Tax<br>Got 3 Replies<br>Income Tax<br>The monthly rent of a premises is ₹ 20,000/- . Since the total rent for the year is ₹ 2,40,000/- tax is liable to be deducted at source. The agreement to enhance the rent with retrospective effect from 01.01.2015. Th....
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....erefore the arrears of rent is to be paid. Whether the tax is to be deducted for the current financial year ₹ 240000/- or including the arrears to be given from 01.01.2015 to 31.10.2016? Please advise. Reply By Ganeshan Kalyani: The Reply: Sec. 194I - Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent, s....
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....hall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon . In view of above provision , the tds shall be deducted on the rent amount including arrears received in the current period. the threshold limit includes arrears in addtion to re....
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....nt amount . thanks. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Whether the provisions of 10(E) is applicable in this case? Reply By Ganeshan Kalyani: The Reply: The relief u/s 89 is applicable in case of past arrear salary received in the current year. to claim this benefit assessee has to file Form 10E. but the query pertains to Rental income. hence in my view the provision of section 89 wh....
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....ere form 10E need to be filed to claim relief is not applicable in this case .<br> Discussion Forum - Knowledge Sharing ....