01 January 2014
Rent Aggrement is started on 21 march 2013 and the rent for the period 21-03-2013 to 31-03-2013 is Rs 28150/-. but the invoice was raised in 11-04-2013 for the month of March & April'13 and Rent continued for whole Year. Rent Invoice April month is:- march period 21-03-2013 to 31-03-2013 28150 april month 78150 Total 106300 Please suggest wheather TDS is deducted on whole amount or on 78150/-
02 January 2014
what you could have done is to create a provision for the rent for 21 March 2013 to 31 March 2013 period. If you have done that, then only 78150 should be considered as payment for the TDS amount. However, if no such provision was created, then TDS should be applicable on the whole of amount.
the above is my view. I am sure there are alternative views on the same.
CAclubindia
