06 June 2013
Hi, We have not paid office rent Rs. 18000 per month from April 2013 to June 2013 and this figure may go up also. Our land lord will come to our office only in August 2013. So we have not deducted any TDS on rent from April 2013. My query is when we make rent payment on August, we will pay rent from April - August and shall i deduct TDS on rent in August and pay to govt. Or I need to make TDS deduction from now itself. If i deduct TDS on rent in August, then it will not be appeared in TDS first quarter return. As we do not know the rent per month, we have not deducted and paid. What is your advise ? please reply
06 June 2013
TDS need to be deducted on payment or credit which ever is earlier. we need to make the rent provision on monthly basis under accrual system of accounting. so need to deduct on monthly from April-2013 onwards
CAclubindia
