Please tell me dat if a company is paying rent, as per the contract, for the quarter then whether company should deduct TDS on the month end on accrual basis or on time of payment??????
CA Sunny Girdhar (Looking for Job) (121 Points)
12 September 2011Please tell me dat if a company is paying rent, as per the contract, for the quarter then whether company should deduct TDS on the month end on accrual basis or on time of payment??????
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 September 2011
You can book the expenses every month deducting TDS, and pay TDS monthly, even if you will pay the actual rent after 3 months.
CA Sunny Girdhar
(Looking for Job)
(121 Points)
Replied 12 September 2011
Is it cumpolsary to da the same way????? Cant TDS be deducted when paid by the company....
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 September 2011
No, it is not compulsory. You can book your TDS liability when you actually pay rent, and deposit TDS accordingly. You will have plan ahead how you will deal with outstanding liabilities on 31st March.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
