EASYOFFICE
EASYOFFICE

Advance recepit of rent

This query is : Resolved 

06 June 2013 Friends

when advance receipt of rent is liable to deduct TDS

please tel me

06 June 2013 Rent advance is liable for TDS u/s 194I of the Income tax Act,1961.

06 June 2013 YES,..

IF YOU RECEIVED RENT IN ADVANCE DEDUCTOR WILL DEDUCT TDS AND REMIT THE REST..

As per Provisions of The Income tax Act Liability towards deduction& remittance of TDS will arise on the basis of payment made to the party or amount credited to the party whichever is earlier


06 June 2013 For it is Refundable or non Refundable Rent advance

or
for both.

confusion

06 June 2013 If advance is refundable, no need to deduct income tax u/s 194I. Please refer Circular 718 dated 22/08/1995.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries