Home > TDS > Service Plans > Form 26QC (TDS on Rent) TDS ReturnLast Updated: Nov 03rd 2022
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A comprehensive list of frequently asked questions.
The Finance Bill 2017 has proposed that any individual/HUF (Other than those who are required to get audited) who is paying month rent in excess of Rs 50000 is liable to deduct TDS on amounts paid to Landlord.
Refer Guide on Form 26QC for additional information.
The Tenant/Lessee of the Property needs to deduct 5% TDS on rent payable to Landlord/Lessor.
TAN is not mandatory for filing form 26QC. PAN of Tenant and PAN of Landlord is sufficient for filing form 26QC
Form 16C is the TDS certificate to be issued by the deductor (Tenant of property) to the deductees (Landlord of property) in respect of the taxes deducted and deposited into the Government Account.
The Due date of payment of TDS on rent is 30 days from the end of the month in which the deduction is made.
For example If deduction is made on 10/03/2021, TDS needs to be paid by 30/04/2021There is a late fee of Rs 200 per day if the form 26QC is not filed within due date. However the late fee is restricted to total amount of TDS
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.