Deduction of tds
This query is : Resolved
Meenu Agarwal
(Querist)
21 August 2012
When is the liability to deduct TDS arises, On accrual basis or at the time of payment?
For eg. the rent of Rs. 80,000 for april, may, june, july & August is paid together during september. What is the due date for deposit of TDS?
For eg. the rent of Rs. 80,000 for april, may, june, july & August is paid together during september. What is the due date for deposit of TDS?
21 August 2012
TDS is required to be deducted at the time of paymnet or credit, whichever is earlier.
Hemant Kumar
(Expert)
21 August 2012
TDS is to be deducted either at the time of payment or to be credited whichever is earlier.
Meenu Agarwal
(Querist)
21 August 2012
Can you give me the answer with respect to my example?
21 August 2012
If the landlord raises a monthly bill, let say, on the last day of the month & the bill is booked on the same day then TDS is required to be deducted as follows:
April - 30th April
May - 31st May
June - 30th June
July - 31st July
August - 31st August
April - 30th April
May - 31st May
June - 30th June
July - 31st July
August - 31st August
Meenu Agarwal
(Querist)
21 August 2012
Landlord has not raised any bill till date?
21 August 2012
Do you have a rent agreement? Does the rent agreement specify that the paymnet is to be made on a monthly basis?
If yes, then TDS is to be deducted on monthly basis.
If yes, then TDS is to be deducted on monthly basis.
Meenu Agarwal
(Querist)
21 August 2012
Lease agreement is there and it is mentioned that monthly payment is to be made. But TAN has been allotted later. Do I Had to pay TDS before allotment of TAN also?
CA Ayush Agarwal
(Expert)
21 August 2012
From Here Now You Make Practice to Deposit TDS Amount of Rent By 7th of Next Month.Whether You Made Payment of Rent or not, Doesnt Matter.
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