Manoj Barik (Senior Executive(Accounts & Taxation)) (71 Points)
09 July 2016
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 09 July 2016
tds will deducted on whole rent recieved in the year
Manoj Barik
(Senior Executive(Accounts & Taxation))
(71 Points)
Replied 09 July 2016
| Originally posted by : Shubham Gupta | ||
 |
tds will deducted on whole rent recieved in the year |  |
with intt. for not deducting TDS from april-15 to feb-16 to pay??(agreement renew with revised rent on March-16)
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 09 July 2016
you can simply charge interest from due date of deposit i.e 7 april 2016 for march 2016 tds till date of payment at 1.5% per month
CA shanky pahoja
(accountant)
(615 Points)
Replied 09 July 2016
tds required to be deducted was 18150.
And it should have deducted from the last payment of 16500 but as you have not deducted you will be charged interest of1.5% for every month or part of it.
Manoj Barik
(Senior Executive(Accounts & Taxation))
(71 Points)
Replied 09 July 2016
Interest will paid from march onwards? as threshold limit cross from march I think so
CA shanky pahoja
(accountant)
(615 Points)
Replied 09 July 2016
yes as you were required to pay it on or before 7 of april interest will count from there
CAclubindia
