TDS on advance p[ayments

Kumar Gaurav (Going...to be C.A soon...) (1624 Points)

19 February 2009

hello,,,,

If i pay three months advance rent to the co. then should i deduct TDS on whole amount while making payment or only for on one month payment??????

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4 Replies

abhishek bhatt (CA student) (136 Points)
Replied 19 February 2009

Originally posted by :Kumar Gaurav
"	hello,,,, If i pay three months advance rent to the co. then should i deduct TDS on whole amount while making payment or only for on one month payment??????	"

on the whole amt for 3 months as govt. will not allow others to use amt of tds for free of cost(i.e. without charging int)

Mukesh Agrawal (Ca professional) (69 Points)
Replied 19 February 2009

Originally posted by :abhishek bhatt
"	TDS on rent is deductible wen Rs 120000 per annum or more rent is payble to the co otherwise not .If this condition is satisfied than the tds will be deductible on whole of the advance payment. Originally posted by :Kumar Gaurav " hello,,,, If i pay three months advance rent to the co. then should i deduct TDS on whole amount while making payment or only for on one month payment?????? " on the whole amt for 3 months as govt. will not allow others to use amt of tds for free of cost(i.e. without charging int)	"