06 March 2013
i am Lessee. As per Lease deed, Lease Rent is Rs.200000 per month. At the end of every month i have to pay only 50% of rent i.e Rs.100000 and At the end one year i have to pay remaining 50% of Rent i.e Rs. 12,00,000. My Question is ,"At the end of every month, on what amount i have to deduct TDS?
06 March 2013
TDS to be deducted on date of payment or credit whichever is earlier. If you are booking only 50% then TDS to be deducted on only 50% amount. If you are booking entire amount TDS to be deducted on entire amount.
06 March 2013
as per practice: you must be booking rent on monthly basis then you must deduct TDS on that monthly. payment doesn't matter here. because it is monthly rent so book 2 lac pm and deduct TDS monthly. but it depends on contract conditions.
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