Rent Deposit
This query is : Resolved
08 June 2009
Dear sir,
I have made a rent deposit for the Fy 2004-05 of Rs. 100.
The Rent agreement is already ceased in the FY. 2005-06. The Owner of the building has refunded only Rs. 20 as on 31/03/2006.
The Balance amount of Rs. 80 is being adjusted towards rent and repairs, Painting etc.
For Rs. 80 which is towards rent & repairs is attracting the provisions of TDS.
I have to deduct the tds on rs. 80 or not?
Pls clarify at the earliest.
with regards,
R. Gurucharan.
I have made a rent deposit for the Fy 2004-05 of Rs. 100.
The Rent agreement is already ceased in the FY. 2005-06. The Owner of the building has refunded only Rs. 20 as on 31/03/2006.
The Balance amount of Rs. 80 is being adjusted towards rent and repairs, Painting etc.
For Rs. 80 which is towards rent & repairs is attracting the provisions of TDS.
I have to deduct the tds on rs. 80 or not?
Pls clarify at the earliest.
with regards,
R. Gurucharan.
08 June 2009
Yes. You are just adjusting the payable amount with your recievable amount. But TDS has to be deducted on the expenses incurred. You will definitely debit the rent and repair and maintenance in your P&L account. So TDS is definitely to be deducted at all at the prescribed rates.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- TDS Claim year
- Sales amount in Gstr1
- Supply through E-commerce Operators
- Relief u/s Section 89
- Rent lease agreement
- TDS Challan Code
- Entries in AIS regarding sale of units and shares
- Suggestions required for income tax filing-software (FY 2025-26)
- SALE BILL AGAINST GOODS RETURN
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
