31 July 2010
Society is maintaining a school, total property belongs to society only,school occupied the societies building ,whether rent can be charged in the books of school and if charged whether TDS is applicable or not?
03 August 2010
As i understand ur query a society is maintaining / running a school. So how can u charge rent to your self only. It is always said you cannot deal with urself and u cannot make profit from urself.
In the accounts while consolidating the rent would be eliminated both sides and nor there would any income nor any expenses and hence no TDS cannot be deducted as no TDS can be deducted on oneself.
CAclubindia
