Refund of advance paid for business premises..... tds impact
This query is : Resolved
12 October 2014
our company taken premises for rent rs.35000/-pm in November 3013 by paying advance 3L.From august 2014,shifted to new premises. old premises officially vacated from 1st Oct 2014.Now,old premises owner ready to pay only 2l as refund of advance,After deducting 2months rent 70000 and repairs and painting 30000/- totaling about 1L.how to consider tds impact for Aug and sept rents or shall I request a new amount to pay us as refund.pls help me how to solve this. if I have to request new amount ,how much it should be,what is impact in 2nd quarter TDs return? pls help me.
13 October 2014
You have to make TDS on 1L so new amount will be 2L and 10,000 towards TDS. Consider this TDS in second quarter return.
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