TDS On rent paid

This query is : Resolved

Mohd Sarfaraz Latibani (Querist)
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02 February 2009 I am paying office rent Rs.21000/- per month from october 2008 but I have not deducted TDS from rent. Now I have applied for TAN and will deduct tds from rent from January 2009 I want to know do I have to pay TDS from october.Plz help

Thanks

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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02 February 2009 You have to pay tds from october 2008. You can deduct now and pay alongwith interest.

CA MEENAKSHI MANGLA

CA MEENAKSHI MANGLA (Expert)
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03 February 2009 you have to pay tds from oct2008. alongwith interest 1% p.m. and it is also noticed that tds for the month of oct, nov , dec will be deposited into separate challan. and remaining with separate challan.

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Azmathullah Khan

Azmathullah Khan (Expert)
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08 February 2009 Sarfaraz
As ur rent excees rs.120000/- u r liable to pay tax

deduct TDS @ 15.45% (if Individual) for oct Rs.3245 add Interest for 149 days upto 7/3/9 Rs.135
Nov Rs. 3245 add interest for 103 days Rs.103
Dec' interest for 66 days Rs. 70
This is for 3rd qtr. & submit ur return immediately the due date is Jan 15, 09
next due date is Apr' 15

For Qtr 4 - Jan TDS 3245 + 37 assume that the due date for rent is end of the month.
Feb rent due date is mar 7
and mar rent due date is March 31.
thx
Pls download the TDS chart on my share file for further details