My landlord is a non-resident Indian (NRI). I have already paid him the house rent for April and May by cheque but did not deduct tax at source. What should I do now? —Name withheld on request
In case of rental income, the specified rate is 30% (plus applicable surcharge and health and education cess).
It is the payer’s obligation to effect TDS on the taxable income of the non-resident and deposit the same with the income tax department. In case of non-compliance, the payer will be liable for penal consequences.
This story is from the July 28, 2023 edition of Mint Mumbai.
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This story is from the July 28, 2023 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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