07 January 2015
XYZ PARTY PAY RENT TO IT'S PARTNER 20000 P.M FROM 01/04/2014. TDS LIABILITY ARISE AFTER CROSSING 180000 LIMIT I.E. FROM JAN-15 ON WARDS OR HAVE TO CUT FROM APRIL-14
07 January 2015
you have to pay the tds from 1/04/2014 .quarterly tds is payable .rent amount is rs 20000 pm.3*20000= 60000 you have to cut tds of rs 6000 per quarter & filed the return also.to make payment due date is 7 days after completing each quarter .apr-jun-july tds is paid before 7 aug .return should be filed before 15 aug.if you fail to make payment before due date 15% p.a interest is applicable
CAclubindia
