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This query is : Resolved
14 July 2009
Hello Friends,
What is the treatment of Following Security Deposits in Books of Accounts:
a) Refundable Security
b) Non Refundable Security
Which of them is Liable to TDS?????
What is the treatment of Following Security Deposits in Books of Accounts:
a) Refundable Security
b) Non Refundable Security
Which of them is Liable to TDS?????
14 July 2009
Tax is to be deducted u/s 194I from non-refundable deposit. If the said deposit carries interest, tax is to be deducted from that interest also u/s 194A.
Ref:-Circular no 718 (question no.2) reported in 215 ITR (St) 68.
Ref:-Circular no 718 (question no.2) reported in 215 ITR (St) 68.
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