TDS on rent
This query is : Resolved
11 November 2009
TDS is not deductible if rent paid during the year does not exceed Rs 1,20,000/-
If the landlord increase the rent in the middle of year and total rent payable during a year exceeds Rs 1,20,000/- then TDS has to be deducted at what rate of 22.66% from 1/4/2009 to 31/8/2009 & 10% wef from 1/10/2009.
But what about late deduction of tds? whether tds has to be deposited with late interest? Can we recover the same from the party?
If the landlord increase the rent in the middle of year and total rent payable during a year exceeds Rs 1,20,000/- then TDS has to be deducted at what rate of 22.66% from 1/4/2009 to 31/8/2009 & 10% wef from 1/10/2009.
But what about late deduction of tds? whether tds has to be deposited with late interest? Can we recover the same from the party?
11 November 2009
If company its 22.66 if individual then 15.45 still oct 1st then as u said.If late payment then you have to pay interest 1% of month fail to make the payment within due date. 7th of every month is the due date to remit.
12 November 2009
But interest is to be charged from the date on which tax was deductible to the date on which it is actually paid. Ref :- section 201(1A).
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
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
