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Advance recepit of rent

This query is : Resolved 
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(Querist)
06 June 2013 Friends

when advance receipt of rent is liable to deduct TDS

please tel me
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 June 2013 Rent advance is liable for TDS u/s 194I of the Income tax Act,1961.
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Ganeshbabu K

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Ganeshbabu K (Expert)
06 June 2013 YES,..

IF YOU RECEIVED RENT IN ADVANCE DEDUCTOR WILL DEDUCT TDS AND REMIT THE REST..

As per Provisions of The Income tax Act Liability towards deduction& remittance of TDS will arise on the basis of payment made to the party or amount credited to the party whichever is earlier
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ramanamma

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ramanamma (Querist)
06 June 2013 For it is Refundable or non Refundable Rent advance

or
for both.

confusion
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 June 2013 If advance is refundable, no need to deduct income tax u/s 194I. Please refer Circular 718 dated 22/08/1995.
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