Queries:
Q1. Mr.A has paid Rent of Rs. 12000/- per month without deducting tax because the liability for tds arises when payment exceeds above 120000/-. Now in the month of February how can Rent be paid after deducting tax i.e 19800/- ( @ 15%)?
Q2. Mr. A is paying interest of Rs. 2000/- per month. In the third month he deduct tds on 2000/- as interest exceeded rs.5000/-. My question is what amount should be fill up in form No.26Q in the column no.419 i.e. amount paid or credited? 2000/- or 6000/-. If I fill 6000/- than which date should be fill in the column no. 418.i.e. date of payment/credit because in the books of A/c there is no entry for Rs. 6000/-.
Q3.Mr.A has paid interest to Mr. B Rs. 10000/- without deducting tax. But in the month of March he pays the tax out of own pocket by crediting the Mr.B. Please tell me the entries to be fill in the form No. 26Q in the annexure for deductee wise tds detail.
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