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Tds on rent

Manoj Barik (Senior Executive(Accounts & Taxation)) (71 Points)

09 July 2016

if Rent paid to someone Rs 15000/Month from April-15 to Feb-16 and in March-16 Rs 16500 then what would be the "TDS"???? to be deduct during the FY 2015-16

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6 Replies

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.