TDS - RENT(194I)
This query is : Resolved
16 February 2010
THE COMPANY WAS PAYING RENT IN THE MONTH OF APR 2010. AND THERE WAS A DEDUCTION IN RENT BY 5% AS AGREED BY THE LESSOR. BUT THE COMPANY DID NOT ACCOUNTED THE DEDUCTION IN RENT, AS USUAL COMPANY PAID THE RENT. BUT IN THE MAY MONTH COMPANY DEBITED THE LESSOR A/C FOR THE AMOUNT EXCESS PAID. WATS THE TDS EFFECT ON THIS.
16 February 2010
deduct TDS on the actual payment to be made.
Eg: Rent original Rs. 100,000
Revised Rs. 95,000
Rent paid by mistake and TDS deducted on Rs. 100,000
Now payment being made Rs. 90,000 i. e. 95000 - 5000 excess paid earlier
So deduct TDs on Rs. 90,000 now
Eg: Rent original Rs. 100,000
Revised Rs. 95,000
Rent paid by mistake and TDS deducted on Rs. 100,000
Now payment being made Rs. 90,000 i. e. 95000 - 5000 excess paid earlier
So deduct TDs on Rs. 90,000 now
16 February 2010
yes.what ever excess TDS adjust in the month of May
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