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pankaj

pankaj (Querist)
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14 January 2010 could u tell me .......weather TDS will be deducted on Security wich will be adjusted in rent later.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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14 January 2010 Tax has to be deducted under section 194I as such deposit represents the consideration for the use of land/building and, therefore, partakes the nature of rent.
Citation:- Circular 718 reported in 215 ITR (St) 68.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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14 January 2010 Yes TDS deductible

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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14 January 2010 Yes , TDS provision applicable.

Manikanta Raju CA,CWA,(CS)

Manikanta Raju CA,CWA,(CS) (Expert)
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18 January 2010 TDS is deductiable at the time of giving the deposit, if the condition for adjustment of rent at the time giving the deposit persist.
If the condition is not persist at the time of giving deposit but it turns out to be of such nature at the the time of vacating the property it is to be deducted at that time.

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