Tds on rent

This query is : Resolved

Bhargav Thakkar (Querist)
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25 February 2016 Dear Sir/Ma'm,

My client is individual and paying rent exceeding 180000/- for FY 2015-16.

He has not deducted TDS on the same till march 2016 because he was not liable for tax audit till march 16.

Now in march his turnover exceeds 1 crore, so now what is the remedy for the same??

shall he deduct TDS for whole the rent for this FY or else??

Please answer early if possible..

Thank you

CA Vap Patel

CA Vap Patel (Expert)
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27 February 2016 Yes he need to pay TDS on whole Rs 1,80,000/- and that to with interest for late deduction.

Bhargav Thakkar

Bhargav Thakkar (Querist)
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12 March 2016 Dear Sir,

If Individual or HUF is liable for audit u/s 44AB in preceding FY then only liable to deduct TDS.In my case he is require to get its accounts audited u/s 44AB is current year itself and not in preceding year.

Thank you

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