Journal Entry
This query is : Resolved
DEVENDER THAKUR
(Querist)
23 July 2011
WE are making a payment on account of advance Rent for Three months as Security.Is there any Question of TDS Deduction?What Should be the Entry for the Documentation Fee made for the Stamp Papers Etc.
CMA Ramesh Krishnan
(Expert)
23 July 2011
No. it is nature of security deposit to the Landlord or House owner. need to be debited as Security deposit. No need to deduct TDS
Stamp papers & documentation can be debited Stamp duty,rates & taxes or Miscellaneous expenses
Stamp papers & documentation can be debited Stamp duty,rates & taxes or Miscellaneous expenses
23 July 2011
• The tax is to be deducted from the actual payment and there is no need of computing notional income in respect of a deposit given to the landlord. If the deposit is adjustable against future rent, the deposit is in the nature of advance rent subject to TDS.
23 July 2011
Documentation and stamp duty expenses to be debited to Account " Rate taxes & Fees" account,
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