Sudheer Reddy (Emp) (84 Points)
05 May 2010
Hi Frndz,
we have to pay March-10 rent. But in this month it is not paying. but the journel Entry passed on Mar1st.
My query is whether shall we pay TDS in Govt. A/c on Rent in advance. The rent amount will may pay in the next month. But we have to do Q4 returns.
What can we do?
Thanks in Advance.
MAHENDRA KUMAR BAGRECHA
(FCA)
(1402 Points)
Replied 08 May 2010
Hi,
Liability to deduct TDS arises " on actual payment or on credit in the books, whichever is earlier. In your case, if you have not paid rent actually but passed a journal entry, you are liable to deduct TDS and to deposit it within due dates.
Sudheer Reddy
(Emp)
(84 Points)
Replied 10 May 2010
So i can deposit TDS in Govt. A/c even without payment of rent?
CAclubindia
