Credit of tds
This query is : Resolved
04 November 2011
Facts:
1)An amount of 10 lacs has been received as Advance Rent, which would be adjusted against Rent receivable over a period of 4-years.
2)This amount of Rent receipt would be claimed as an INCOME over the 4 year period (i.e.2.50 lacs in each year)
Query:
Can Tax deducted (TDS) by the deductor, on the entire 10-lacs in the year of receipt of Rental income be claimed over a period of 4-year i.e. proportionately with the amount of income shown.
1)An amount of 10 lacs has been received as Advance Rent, which would be adjusted against Rent receivable over a period of 4-years.
2)This amount of Rent receipt would be claimed as an INCOME over the 4 year period (i.e.2.50 lacs in each year)
Query:
Can Tax deducted (TDS) by the deductor, on the entire 10-lacs in the year of receipt of Rental income be claimed over a period of 4-year i.e. proportionately with the amount of income shown.
04 November 2011
Yes the amount of Tax deducted by the deductor can be claimed in proportinate basis over the life of the period of 4 years.
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