Relating to tds deduction.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2014
Hi to all,
Please solve this doubt,
If Iam paying rent Rs14000 pm For Apr-sep. Later it was increased to 17000pm for Oct-march. Since I thought it won't cross 180000 i didn't deduct for Apr-Sep. From Oct how much i have to deduct and is any interest is charged for that and how i have to treat for Quarterly returns.
Please solve this doubt,
If Iam paying rent Rs14000 pm For Apr-sep. Later it was increased to 17000pm for Oct-march. Since I thought it won't cross 180000 i didn't deduct for Apr-Sep. From Oct how much i have to deduct and is any interest is charged for that and how i have to treat for Quarterly returns.
02 August 2014
In October you need to deduct TDS on earlier payment amount as well. No interest required to be paid. In return show date of payment and credit for total amount in October only otherwise the demand for Interest will come since it is system calculated. You are required to deduct TDS only after threshold limit is crossed.
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