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In the present article we will briefly take up the Annual Information Statement covering the Rent received category.

AIS information category – Rent received-

The broad categories of information covered in AIS is divided into 50 categories. One such category is ‘Rent received’. Notably, the information under the category of ‘Rent received’ will be figure-out on the basis of the following three sources-

1. Form 26Q filed by the deductor-

Specified tenant is liable to deduct TDS as per provisions of section 194-I of the Income Tax Act. Accordingly, such tenants are also required to file TDS statement/ return in Form 26Q on quarterly basis.

Information so furnished in Form 26Q will be taken up as the source by AIS.

2. Form 26QC filed by the deductor-

Tenants (i.e., individual or HUF) paying rent amount more than INR 50,000 is liable to deduct TDS as per provisions of section 194-IB. Such tenants are required to furnish challan-cum-statement in Form 26QC. Information furnished by the tenants under via Form 26QC will also be taken up as the source by AIS.

3. Annexure II of TDS statement in Form 24Q filed by the employer-

In order to claim the HRA, exemption available under section 10(13A), the employee is required to provide the PAN of the property owner. Correspondingly, the employer is required to report the PAN of the property owner (as provided by the employee) in the Annexure II of the TDS statement in Form 24Q.

AIS processing of information category – Rent received-

The different source of information and its corresponding processing in AIS is reflected in the table below-

Particulars AIS processing
Information reported under section 194-I; section 194-IB and co-owner of the property All the amounts will be summed up at deductor PAN level.
Higher of-

  • rent reported via section 194-I; section 194-IB; co-owner; or
  • rent reported in Annexure II of TDS Statement in Form 24Q
Higher amount will be mentioned as ‘Landlord- Tenant’ Combination.
Lower of-

  • rent reported via section 194-I; section 194-IB; co-owner; or
  • rent reported in Annexure II of TDS Statement in Form 24Q
Lower amount will be marked as ‘Information is duplicate/ included in other information’
PAN of landlord as reported in Annexure II of TDS Statement This information will be shown only when the rent received from tenant is not reported under other sources.

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