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Tds on rent deposit

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 April 2011 dear sir,from our partnership firm we have paid rent deposit rs. 1200000/- to partners on 31.03.2005. is tds deduction should be there or not.
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CA Navin Jain

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CA Navin Jain (Expert)
28 April 2011 IF U HAVE PAID RENT AS SECURITY, AND SUCH SECURITY IS REFUNDABLE THAN NO NEED TO DEDUCT TDS BUT IF SUCH SECURITY IS ADJUSTABLE IN FUTURE WITH RENT THEN TDS WOULD BE DEDUCTED AS ADVANCE RENT PAID.

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