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This plan enables you to file A tenant of a property making monthly rent payment exceeding ₹ 50, 000 is required to deduct tax at the rate of 5% from the rent payable to a resident landlord. A delay in filing the returns attracts interest and penalty levied by the Tax Department, hence, it is important to pay TDS within due date and subsequent return filing is equally important. this plans Any individual who is required to make a payment on salary and has to deduct TDS. Any organisation such as corporate, partnership firm etc required to make specified payments (other than salary) after deduction of TDS. Every above mentioned person or entity who has deducted TDS while disbursing salary to its employees is required to file your quarterly TDS returns. A delay in filing the returns attracts interest and penalty levied by the Tax Department. Any branch of principal business office

SERVICE INCLUDES

  • Registration on TRACES
  • Filing of Form 26QC
  • Challan Verification
  • Online FVU Generation and Submission
  • Generation of Form 16 C
  • Expert Assisted Tax Filing for business and professionals

DOCUMENTS REQUIRED

  • Details of Landlord / Owner
  • Details of tenant / Lessee
  • Details of Rented Property and Rent Paid
  • Tax Challan details
  • Deduction details
  • Other Documents

Process

5 Simple & Easy steps to work with us.



1

Fill Form

Fill the Request a Call Back form from the Service Page you want to avail

2

Talk to Expert

After Filing the form you will get a Free Expert Consultation for your Idea

3

Plan Purchase

Purchase the Plan after the Consultation from the TaxWix Experts.

4

Upload Documents

Upload All Basic Documents to Work on the case.

5

Completion

After Processing Our Taxwix Will Complete your Registration Process.

FAQ

All individuals or HUFs (except those liable to audit under clause a and b of section 44AB) paying monthly rent to a resident more than Rs. 50,000 are liable to deduct TDS under section 194-IB.
Form 26QC is required to be submitted for TDS details on all payments other than salary on a quarterly basis by the deductor. Form 26QC is applicable for All individuals or HUFs (except those liable to audit under clause a and b of section 44AB) paying monthly rent to a resident more than Rs. 50,000 are liable to deduct TDS under section 194-IB.
All individuals or HUFs (except those liable to audit under clause a and b of section 44AB) paying monthly rent to a resident more than Rs. 50,000 are liable to deduct TDS under section 194-IB.
The due date for payment of TDS on rent is 30 days from the end of the month in which the rent is paid. Example: If the taxpayer has made deduction of rent in December, then the applicable TDS have to be deposited on or before thirty days, that is January 30th.
Revised return filing on account of incorrect information provided by the assessee during the original return filing shall not form part of the plan.
Yes, return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier. Filing of revised return is not part of the plan. Plan buyer is required to provide full and accurate details to avoid the need for any rectification in the originally filed return.
Section| TDS | Rate | Nature of Payment
Section 192| According to income slab According to income slab
Section 193|10% of income from interests on securities
Section 194| 10% of income from deemed dividends
Section 194A|10% of income from interests other than those on securities more than Rs.5,000
Section 194B| 30% of lottery or game-related winnings more than Rs.10,000
Section 194BB| 30% of income from horse racing more than Rs.5,000
Section 194C| 1% of earning from contracts or sub contracts for individuals and HUF (Hindu Unified Families) 2% for corporates morethan Rs.30,000 agregatted 1,00,000
Section 194D| 10% of income from insurance commissions more than Rs.20,000
Section 194EE| 20% of payment in NSS deposits more than Rs.2,500
Section 194F| 20% of payment made for repurchase of UTI or MF units
Section 194G| 10% of commission earned from selling lottery tickets more than Rs.1,000
Section 194H| 10% of commission or brokerage earnings more than Rs.5,000
Section 194I| 2% of rent of plant and machinery 10% of rent of land, building, fitting, or furniture more than Rs.1.8 lakhs
Section 194IA|1% Payment on transfer of certain immovable property other than agricultural land more than Rs 50 Lakhs.
Secrion 194IB |5% on payment if All individuals or HUFs (except those liable to audit under clause a and b of section 44AB) paying monthly rent to a resident more than Rs. 50,000
Section 194J|10% of fees for technical or professional services
Section 194L|10% of compensation payment made to a resident when acquisitioning some immovable property more than Rs.1 lakh
*Threshold limit denotes the amount of income/profit up to which TDS will not be deducted. TDS will be calculated on value of income up and over threshold limit only.
You can pay taxes Online . If comes to due you can pay taxes online. We will help you in that payment.
As per section 234E of the Income-tax Act, 1961 read with Rule 31A (4B) of Income-tax Rules, 1962, failure on the part of tenant to furnish details in Form No. 26QC online within 30 days from the end of the month in which the tax payment is made will attract levy of fee at the rate of Rs.200 for every day
No, all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
Form 16 is given by the Tenant to Landlord stating that this much is the Rent Paid to him & this Much is TDS is deducted and paid on his account during the year. you can get it after filing the TDS return form 26 QC with the Income tax department