I am a tenant paying rent to an NRI for a house located in Bangalore. I have the following questions: A. What is the % of rent that i should deduct every month B. Do i need to create a TAN for deducting and depositing the tax every month C. Do i need to issue the form 16A after every quarter to the landlord ? D. Do i need to obtain 15 CB from a CA and file 15CA every month ? The rent paid is more than 5 lakhs per annum in my case. If so, can you help me in 15 CB?
1. You need to deduct tds @31.2% (tax plus cess) on the rent unless your landlord gives you no/low tds deduction certificate
2. Yes, you need TAN
3. Yes
4. Yes, 15CA is required irrespective of the amt and 15Cb Is required if the rent exceeds 5 lacs. Yes, we can issue 15CB. Pls connect us over phone as we are not allowed to give our contact details
- Rate would be 31.2%. For lower deduction, please ask certificate u/s 197 from NRI. Section 197 certificate can be applied online. I may assist NRI in getting it.
- Yes you need TAN for TDS deduction, deposit of TDS and filing of TDS return. TDS should be deducted at each payment and deposited till 7th of next month. TDS return will be filed on quarterly basis.
- Yes you need to obtain 15CB and file 15CA before making payment to NRI. Yes I can assist you in filing of Form 15CB, TAN registration, TDS return filing. My email is aroravivek1982@gmail
Yes you should deduct TDS irrespective of amount of rent. Rate of TDS would be 31.2%.
Since he is a NRI you need to file Form 27Q and for that you would need TAN.
Yes you need to issue TDS certificate. But in such case it is always advisable to ask landlord to take Nil TDS deduction certificate as it would save both of you from doing extra work.
As he is an NRI he must be having a NRO account and you must be depositing this rent amount in his NRO account then in that case no need for 15CA or 15CB.
If you need further assistance we can have a phone consultation.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you.
Dear Sir,
A. TDS rate would be 31.2%. You have to deduct 31.2% every month while making the payment to the landlord.
Certificate for lower deduction can be applied online for lower deduction of tax.
B. Yes, for depositing the tax with the income tax authorities you need to apply for the TAN.
C. Yes, you have to issue Form 16A to your landlord after every quarter.
D. Yes, for making the payment to the landlord outside India, Form 15CA-CB is required.
We can help you to obtain TAN, filing your TDS return and Form 15CA-CB. Please write back to us at cadivya9293@gmail
Thanks and Regards
Divya Chugh
A. Tax rate will be 31.2%
B. Yes TAN is required before deducting TDS
C. Yes, 16A is required to be issued every quarter.
D. Yes 15CA, 15 CB will be required every month
Hello,
A. TDS rate would be 30% + cess, i.e. 31.2%
B. Yes, TAN registration would be required.
C. Yes.
D. Filing of Form 15CA would be mandatory. Form 15CB would be required, If the annual rent payment is more than ₹5 lakh.
I hope this answer satisfies your requirements. For further understanding and TDS compliances, you can contact us directly or take a phone consultation.
Regards,
CA Hunny Badlani
Dear Sir,
Hope you are doing well !!
1. You need to deduct tds @31.2% (tax plus cess) on the rent.
2. Yes.
3.Yes.
4.Yes.
