Whether TDS shall be deducted on deposit amount given for a property on rent of residential purpose?
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Tds
Replies (7)
No dear..
No. TDS are not deducted on deposit amt.
If the deposit is not refundable, i.e to say if it is adjustable against rent in some equal installment, or as per any customized formula in the agreement, then TDS should be done, otherwise no.
Deposit is not an expenditure, if not adjustable in rent, so no need to deduct TDS.
YES ..AGREE WITH ALL
SECURITY DEPOSIT IS REFUNDEABLE
NO TDS IS DEDUCTED.
Deposit is not an expences. Hence there is no TDS deduction. But if the same adjusted against rent and the rent amount is more than 1.8 lakhs that you suppose to deduct the TDS. Since it is residential purpose there is no qustion of TDS at all.
SECURITY DEPOSIT NO TDS WILL BE ATTRACTED.
no security deposit par tds is not applicable
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