Why are taxpayers claiming high HRA under income tax dept's radar? TDS on rent explained
Many people living in rented apartments pay significant rent every month. What they often miss is that if the monthly rent exceeds ₹50,000, they’re required to deduct TDS before paying their landlord.
Recently, salaried employees who claimed high HRA exemptions without deducting TDS have received emails/notices from the Income Tax Department. These emails ask them to either rectify their HRA claims or pay the applicable TDS along with interest and penalties.
In this video, we’ll break down why these emails are being sent, how TDS on rent works, and what your options are if you’ve received such a communication.
Chapters
0:00 - Introduction
0:45 - Is it mandatory to deduct TDS on rent?
1:23 - Is TDS rate on rent 2% or 5%?
1:42 - When should I deduct TDS?
2:17 - How to deposit TDS with government?
2:33 - How to file Form 26QC for TDS deposit?
3:09 - Is TDS applicable when paying rent to NRIs?
3:41 - Form 27Q for depositing TDS in case of payments paid to NRIs
3:52 - What happens if I don’t pay TDS?
4:16 - Why is ITD sending notices to people who’ve claimed high HRA?
4:49 - How to rectify income tax notice received for not deducting TDS on rent?
5:44 - Closing
Here's more on the topic:
https://qna.tax/t/i-received-an-email-from-itd-about-not-deducting-tds-on-rent-paid-under-hra/8533/2
https://qna.tax/t/tds-on-high-rent-payments-and-filing-form-26qc/3913
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Видео Why are taxpayers claiming high HRA under income tax dept's radar? TDS on rent explained канала Quicko
Recently, salaried employees who claimed high HRA exemptions without deducting TDS have received emails/notices from the Income Tax Department. These emails ask them to either rectify their HRA claims or pay the applicable TDS along with interest and penalties.
In this video, we’ll break down why these emails are being sent, how TDS on rent works, and what your options are if you’ve received such a communication.
Chapters
0:00 - Introduction
0:45 - Is it mandatory to deduct TDS on rent?
1:23 - Is TDS rate on rent 2% or 5%?
1:42 - When should I deduct TDS?
2:17 - How to deposit TDS with government?
2:33 - How to file Form 26QC for TDS deposit?
3:09 - Is TDS applicable when paying rent to NRIs?
3:41 - Form 27Q for depositing TDS in case of payments paid to NRIs
3:52 - What happens if I don’t pay TDS?
4:16 - Why is ITD sending notices to people who’ve claimed high HRA?
4:49 - How to rectify income tax notice received for not deducting TDS on rent?
5:44 - Closing
Here's more on the topic:
https://qna.tax/t/i-received-an-email-from-itd-about-not-deducting-tds-on-rent-paid-under-hra/8533/2
https://qna.tax/t/tds-on-high-rent-payments-and-filing-form-26qc/3913
👉 Explore Quicko: https://quicko.com
👉 Tax Q&A by Quicko: https://qna.tax
👉 Learn by Quicko: https://learn.quicko.com
👉 Tools by Quicko: https://tools.quicko.com
Our top playlists:
👉 Shorts: https://www.youtube.com/playlist?list=PLcVZvVYQp4AeokF17Jfm5TiHbv-DuXRUw
👉 Tax QnA: https://www.youtube.com/playlist?list=PLcVZvVYQp4Acau-uLIdcCAgumiY5yBRZr
👉 Pocket Money: https://www.youtube.com/playlist?list=PLcVZvVYQp4AeBEJF0Ugk-Z5c6oX4eM42Q
👉 Get to know Quicko: https://www.youtube.com/playlist?list=PLcVZvVYQp4Aen1AxdPkmReXBVuh0So9cN
👉 Untaxing Taxes: https://www.youtube.com/playlist?list=PLcVZvVYQp4AfchVpoQUVkt0vYxBaP4hZB
Follow Quicko on the internet:
👉 Instagram: https://www.instagram.com/quicko_official
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Видео Why are taxpayers claiming high HRA under income tax dept's radar? TDS on rent explained канала Quicko
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29 марта 2025 г. 10:30:10
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