Advance recepit of rent
This query is : Resolved
06 June 2013
Friends
when advance receipt of rent is liable to deduct TDS
please tel me
when advance receipt of rent is liable to deduct TDS
please tel me
06 June 2013
Rent advance is liable for TDS u/s 194I of the Income tax Act,1961.
Message likes :
1 times
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
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
Message likes :
1 times
06 June 2013
For it is Refundable or non Refundable Rent advance
or
for both.
confusion
or
for both.
confusion
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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