TDS-Rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2010
Company has paid 3 mth rent as deposit but in agreement it is specified that the deposit is not refundable and will be adjusted in future rent. Now what is the tax implication on licensee side from tds angle. PLs advice
16 December 2010
TDS need to be deducted on such deposit u/s 194I @ 10%.
16 December 2010
TDS will be deducted in the month in which he will book his income.that is if he has taken 9000 in advance and treat 3000 rent for first month and further than on 3000 tds will be deducted respectively as per section 194 I
17 December 2010
At the time of deposit TDS need not to be deducted but when the deposit amount adjusted against Rent, it is subject to TDS.(Accordingly you have to either pay TDS out of packet and get it from them or incur it as your expense)
17 December 2010
Agree with Sanjay.
TDS has to deducted either at the time of credit to the account of the payee or payment, which ever is earlier.
Hence, TDS shall be deducted @ 10% at the time of payment of advance rent.
TDS has to deducted either at the time of credit to the account of the payee or payment, which ever is earlier.
Hence, TDS shall be deducted @ 10% at the time of payment of advance rent.
17 December 2010
Agreed With Sanjay Ji & Naik Ji.
In agreement it is clear that deposit will be adjusted agaisnt rent i.e it is treated as advance payment of rent not deposit.
In agreement it is clear that deposit will be adjusted agaisnt rent i.e it is treated as advance payment of rent not deposit.
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
