Audit of rent paid
pkD (article) (221 Points)
13 September 2014
what points must be considered in the audit of rent paid??
1 Replies
Jaikishan
(CA)
(168 Points)
Replied 13 September 2014
In rent paid kindly see the following poibts
Rent agreement between licensor and licensee And the same must be registered.Also the rent price payable with rent price paid
Utility bill less than 3 months so understand whether actually the person residing there or not
Tds is deducted as per proper section I.e.194 I.
In case there is delay in payment basis tds must be deducted on accrual basis.
If rent does not exceed rs 180000 during financial year, tds deduction is not mandatory.
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