Tenants who pay more than 50K rent are required to deduct 5% as tax in the month of March.
In case you are vacating early, then deduct tax in the last month of tenancy..
Go online on www.tin-NSDL.com & submit Form 26QC within 30th April.
In Form 26QC, you will be required to fill yours & landlord's PAN, email & phone number.
Deposit TDS using net banking, credit or debit card & obtain TDS certificate (Form 16C) on www.tdscpc.gov.in after 3-7 days.
Submit TDS certificate to landlord within 15th days of depositing TDS.
If you don't comply?
1% per month if the tax hasn't been deducted.
1.5 % per month if the tax has been deducted but not deposited.
Delay in filing 26QC - Late fee of 200/day. If 26QC not filled for one year from due date then penalty ranging from INR 10k to 100k
Delay in issuing Form 16C to landlord - 100/day