04 June 2010
One of our client has received rent of Rs.300000/- on which Tds has deducted of Rs.30000/-.But out of that rent Rs.175000/- has pertaining to next year advance received.Yet we haven't received Tds certificate from Client.Can u guide me how to treat above income?
Rent received in 2009-10 by Cheque Rs.300000/- Tds Deducted Rs.30000/- Advance received of Rs.175000/-
rest will be balance as advance from party but remember party has deduted tds on advence. if he is not deducted his libility to deduct tds on advence payment. tds certificate to be issue for full tds amount.
CAclubindia
